VW News Updates

Volkswagen is restructuring to slim its sprawling portfolio and lift profitability. Ducati is one brand that could be jettisoned even though the motorcycle maker is among the group’s most prestigious assets.

Schaeffler, which supplies GM, BMW and others, said it’s responding to the downturn in the auto market and intensifying competition.

The results underline the challenges facing the company as it seeks to cut costs through a restructuring that could mean the loss of up to 100,000 jobs and the closure of four German plants.

CEO Oliver Blume has identified North America as one of VW’s biggest remaining growth opportunities, particularly in rugged SUVs and pickups where the group has little presence.

The litigation followed a European Union cartel probe that led truck makers to pay billions of euros in fines.

The warning deepens the challenge for CEO Oliver Blume, who is trying to overhaul Europe’s biggest carmaker as its former growth engines falter. 

Volkswagen's supervisory board backed a sweeping overhaul that calls for 50,000 additional job cuts, far fewer models and a smaller industrial footprint.

Volkswagen should consider “every option” to usher in a turnaround, Porsche Automobil Holding said Aug. 7, its strongest plea yet for swift change.

Two ex-Volkswagen engineers denied charges they made a combined $300,000 trading on secret information about the carmaker’s planned $5 billion joint venture with EV maker Rivian.

Labor officials have sharply criticized Oliver Blume after details of the restructuring proposals, which could double the total number of job reductions to 100,000, were leaked in the media.