The Volkswagen brand is facing serious financial problems, according to its CEO Thomas Schäfer and CFO Patrick Andreas Mayer. “Our roof is on fire,” the British magazine quoted Schäfer as saying Autocarwhich brings the message.
“In a number of areas, we are letting costs rise too high,” Schäfer elaborated on his alarmist words. He went on to say that he plans to implement several “performance programs” to save 10 billion euros (237.7 billion crowns) over the next three years. “Our structures and processes are still too complex, slow and inflexible,” he added.
Volkswagen is investing a fortune in the development of electric cars; will soon introduce the ID.7 limousine to the European markets. But at the same time, it is also working to ensure that its combustion models handle increasingly strict emission regulations; new tiguan and passat are coming.
Added to this is a drop in sales in China, where Volkswagen has had to cut prices according to the British to remain competitive with local brands, both in the field of electric and conventional cars.
Schäfer’s words were also supported by Volkswagen CFO Patrik Andreas Mayer, who said that “our car business is not doing well” and called Schäfer’s warning a “last call”.
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AutoMoto
2023-07-17 08:34:18
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