Volkswagen has “a year, maybe two” to resize and adapt to lower sales in its home region, Europe’s largest carmaker has warned, as its plans to close factories in Germany faced fierce resistance from workers and politicians.
Speaking at a meeting with employees at the company’s Wolfsburg headquarters, VW’s finance chief Arno Antlitz said the drastic measures including job cuts announced this week were necessary as the company did not expect pre-Covid demand for cars to return in Europe.
The company turning back on a promise not to cut jobs in Germany before 2029 comes at a time when VW expects to sell roughly 500,000 fewer cars in Europe per year, compared with pre-pandemic, “the equivalent of around two [car production] plants”, he said.
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