‘Cannot Continue’: Major Automaker Hits The Gas On Cost Cuts Amid Tepid EV Demand, Increased Chinese Competition
1 sourceUpdated Jul 1, 2026
Volkswagen (VW) said Wednesday that it needs to cut costs amid slackening consumer demand for electric vehicles (EVs) and weaker car sales in China. VW’s profits fell 64% in the third quarter of 2024, driving the…
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