Volkswagen AG defended plans to consider unprecedented factory closures in Germany, saying flagging car sales have left the company with about two plants too many. #germany #volkswagen #vw #business #worldnews #europe
Demand in Europe hasn’t recovered since the pandemic, with industrywide auto deliveries in the region around 2 million short of its peak, Chief Financial Officer Arno Antlitz said at an employee assembly in Wolfsburg. Workers heckled Antlitz and Chief Executive Officer Oliver Blume when they took the stage.
Volkswagen has lost sales of some “500,000 cars, the equivalent of around two plants,” Antlitz said, according to prepared remarks. “We need to increase productivity and reduce costs.”
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