Posted on 09/19/2024 11:39:19 AM PDT by RomanSoldier19
W is considering axing as many as 30,000 jobs as it scrambles to save billions of euros amid a slowdown in the car market, German media has reported.
The carmaker recently announced it could close some of its German factories for the first time in history as it struggles to reinvent itself for the electric era.
Analysts at Jefferies said VW is considering closing two to three facilities, with as many as five German sites under threat, putting 15,000 jobs at risk.
That job losses is feared to have doubled to 30,000, according to Manager Magazin, a leading German business publication.
(Excerpt) Read more at msn.com ...
VW spent 80 billion euros on its EV platform.
If it failed they will go bankrupt, and it is failing.
They know that if they go bankrupt they will just be bailed out by German gov’ts.
But if they rejected EVs, they would be in huge trouble with regulators trying to put them out of business.
This is the incentive structure that the Regime has created to guarantee corporate stupidity.
VW should have ONE car style that’s cute, cheap, easy to maintain, has the same parts for decades making it easy to repair. If they did that they would have a universal... and make a lot of profit off people who don’t feel the need to put on airs.
Electric Era?
In one phrase, the authors of The Telegraph article; Szu Ping Chan, Chris Price, and Alex Singleton broadcasted that they are nothing but propagandist whores who missed their calling writing woke fiction for Hollywood.
The "reinventing for the electric era" is what is CAUSING the layoffs.
A short introduction to Mr Obvious is in order
Bingo
True
How’s your Sanctions on Russia going, senile Joe? Blowing Nordstream and Vlad’s reverse sanctions just about wiped out the EU manufacturing base- laughable.
Love the MK4 era 1.8T (turbo).. Peppy lil thing! A rock-solid engine.
Audi’s are garbage. I read a review from an Audi owner whose engine locked up at 9000 miles. Audi refused to warranty the engine. The owner was left with two bad choices. Replace the engine or sell it for scrap. Look around and count how many Audi’s you see on any given day.
VW did that with the Beetle. The US EPA killed it in the US.
Couldn’t meet emission standards.
And to the UAW in Chattanooga, we promise not to layoff anyone in our Tennessee plant.
Pinky promise. Scouts honor. We promise.
Another thing...
So they came out and said that there were investing a few billion with Rivian, another failing EV company.
Is that where that money is being redirected or are they about to tank that investment, as well. If they rescind the investment with Rivian, I think that will be the end of Rivian. Pretty please.
—”If it failed they will go bankrupt, and it is failing.”
Nothing new.
For years VW and Toyota have been neck and neck on the world’s largest auto production, about ten million each.
VW employs about 600,000, and Toyota employs about 300,000.
The state of Lower Saxony owns 20% of VW.
VWs union holds about half of the seats on VWs board.
Tesla manufactures cars in Germany using ONE-THIRD the man hours that VW uses. And Tesla is just getting started.
When now X VW CEO started talking about Tesla hours, they fired his ass. The union didn’t like that kind of talk, and neither did Lower Saxony.
But VW has that cool parking garage tower!
When I first married, we moved to the San Diego area in 1981-ish as my then-husband was in the Navy on the USS Kitty Hawk. We drove that 1971 VW Bug from WI to CA, packed to the gills with our (very) few ‘worldly possessions.’
Once we settled there, I was CONSTANTLY pestered by the local guys who wanted to buy the VW from me to make it into a dune buggy of sorts.
I finally relented when I got TWICE what I paid for it in the first place. Two years later we ‘upgraded’ to a hatch-back VW for my ride back home. He was leaving for a West Pacific Tour on The Hawk and I went home to be with our families for the 6 months he would be gone. ;)
Good memories. Sad, but good. :)
I owned a Jetta 4-door at one point. Nothing more FUN to drive on the open road than that car! She was smooth as silk.
However, it was a year when they were having fuel-injector problems. It would just STOP running at random times.
I traded in that car after being stranded twice for no reason. It WAS a lovely vehicle to drive, though.
The UAW finally just unionized their plant in Chattanooga. Let’s see how long that lasts now. Really depends on the workers themselves, but union leadership tends to miss the obvious most of the time.
I’m kind of curious how they could organize the entire workforce in a plant located in a right-to-work state. Even TVA can’t hold electricians to join the IBEW - it’s an individual choice. As it should be always.
Those Jetta Diesels were great. Very economical - until the EPA swooped in and made VW change things. From that point on, the mileage sucked.
Seems to me that dot-gov doesn’t like an efficient diesel because the congress critters have too much money invested in electric. The way I see it, the EpA pulled a fast one to eliminate a great mileage diesel engine that competed with electrics.
First car:
* Karmann Ghia
Second car:
* Rabbit
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