Volkswagen CEO looks to avoid plant closures as automaker moves to cut costs
Source: ABC News/AP
July 12, 2026, 4:07 AM
BERLIN -- Volkswagen's CEO indicated in comments published Sunday that he's trying to avoid closing plants as he seeks to turn around the automaker's performance.
The Wolfsburg, Germany-based company faces pressure to cut costs at home and increasingly intense competition in the lucrative Chinese market, in particular.
Last week, Volkswagen said its “fundamental realignment” over the past three years had reached its next phase, announcing plans to streamline the model lineup by up to half.
It didn't provide specifics, and questions remain over how else it will cut costs. There has been renewed speculation about the future of several plants in Germany. “There are more intelligent solutions than closing plants,” CEO Oliver Blume told the Bild am Sonntag newspaper.
Read more: https://abcnews.com/Business/wireStory/volkswagen-ceo-avoid-plant-closures-automaker-moves-cut-134688940
There's a big Volkswagen plant in TN that just ratified their first union contract 5 months ago.
Didn't realize they had bought up luxury brands like Lamborghini, Porsche, and Bentley.
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I'm on the poor side of middle class and got my 2-BR, 2BA condo for $60,000 in 2011. Who can afford these prices? 84-month loans? 