▪️Fewer cars are being sold in Europe. At the same time, new competitors from Asia are rapidly entering the market. “The pie is getting smaller, and we have more and more guests at the table,” says the head of Volkswagen car giant Oliver Blume in an interview with German Bild

▪️”The entire European automotive industry is in a very difficult situation — a situation that has never been before. And economic conditions have become even more difficult, especially for the Volkswagen brand,” Blume said.

The position of Volkswagen, the leader of the European automotive industry, is so serious that “you can’t just leave everything as it was before, and cutting costs alone is not enough now. Car production has become more expensive, and profits are falling

Earlier, Volkswagen announced the impending closure of a number of the group’s enterprises in Germany with the termination of job guarantees, which have been in effect since 1994, and the dismissal of thousands of employees

CRYSTAL OF GROWTH previously informed that, according to El País, the German economy is on the edge of the abyss, and with it the economy of the entire EU

@crystal_book