Volkswagen Group is preparing a major restructuring that could halve its global model range and lead to factory closures as it responds to increasing pressure across the automotive industry.
Volkswagen Group has approved a major restructuring programme designed to reduce costs and simplify one of the world's largest automotive businesses.
The company plans to reduce its model range from roughly 150 vehicles across its brands to around 75 by 2030. The strategy will also reduce the number of platforms, options and components shared across Volkswagen Group brands.
Several manufacturing sites are under review as production volumes fall from previous highs. Volkswagen is also facing intense competition in China, pressure from tariffs and tougher conditions in Europe. The company believes simplifying its products and operations will make the group more efficient and better prepared for future competition.
1 Comments
Emily Wilson
Volkswagen cutting so many models shows how much the automotive industry is changing.