Oh’ Dear!, The brown stuff has started to hit the fan at VW with two plants idle & the ending of job guarantees at 6 plants & a 4 day week on the cards.
The first time in it’s entire history that it’s had to close plants in Germany.
Volkswagen Group CEO Oliver Blume told staff at a packed meeting in Wolfsburg yesterday that they have one to two years to turn the company around.
They’re also in line for huge fines at the end of the year with overselling ICE vehicles & missing their 22% sales of electric vehicles this year, The percentage of electric vehicles auto manufacturers have to sell next year goes up to 28% & this years shortfall will be tagged onto that.
Their EV’s are way too expensive & the software in them is still subpar to the Chinese brands. The cashcow days are over. https://www.reuters.com/business/autos-transportation/german-union-vw-4-day-week-conceivable-will-consider-all-options-2024-09-05/
Ebay need to stockpile yellow vests.
https://www.youtube.com/watch?v=2RKhw1vrZnc
It’s hard to sell a commodity that few want to buy. That’s the plain, simple and unequivocal truth.
They’re going to be in a death spiral soon if they can’t stem their losses whether it’s electric or ICE which has a limited life span in Europe.
China, Once their biggest bread & butter market has disappeared & sales of their ICE vehicles have collapsed along with Honda, Mitsubishi, Jeep & Hyundai who have all closed plants there, They made huge profits around 50% of their total profits there in the last decade or so.
VW CEO said in that link, don’t expect any more pay checks from China.
They’ve spent €10’s of billions on BEV’s & failed & they’re going to lose €millions more buying carbon credits from Tesla at the end of the year.
Former VW CEO Herbert Diess must be saying Told you so to the VW board after they fired him.
Their business model has failed because of ICE rationing and customers who want ICE not electric.Not because they want a Chinese EV over a German EV.
Although I’d prefer a JLR EV than a Chinese one if the choice is walk or the bus v a usual JLR type with 150 mph and 0-60 mph in less than 4 seconds.
Unfortunately for Chyanar’s military budget.
On the contrary, People are brainwashed by MSM who are bank rolled by big oil to spread FUD about electric cars to keep their fossil fuel dominance, The latest .Gov poll showed abysmal understanding of electric cars by petrol/drivers,
“When asked if ten separate statements about EVs were true or false, more than half (57%) of petrol/diesel cars drivers got just 2 or less out of ten correct, with 90% scoring just five or less out of ten. Around a quarter (23%) got none correct.”
All that matters is that you ain’t going to get as far as an ICE before it needs a charge and it’s going to take much longer to find a charging station and to recharge it, at a higher cost, than re filling the tank of an ICE with the equivalent energy.No doubt the questions were created by and for the see see pee.