Volkswagen announces major restructuring, plans to cut model range and production capacity
Volkswagen unveiled a sweeping restructuring plan that includes reducing its model lineup by up to 50%, cutting product complexity by 75%, and capping annual global production at 9 million vehicles.
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Volkswagen has announced a significant restructuring initiative aimed at streamlining operations and reducing costs. The plan includes cutting the company's model range by as much as 50% and decreasing product complexity by up to 75%.
Additionally, the automaker intends to lower its global production capacity to 9 million vehicles per year. The move is expected to improve efficiency and focus resources on key models and markets.
Source: First Squawk