Volkswagen Plans 1 Million Vehicle Capacity Cut in China and Europe - Caixin Global

Volkswagen Group plans to cut global production capacity by 1 million vehicles across China and Europe and reduce its vehicle lineup by as much as 50%, part of a broad restructuring aimed at improving efficiency and profitability.
The overhaul highlights the mounting pressure on the German automaker as it contends with geopolitical tensions, tighter regulations and intensifying competition from Chinese carmakers that are eroding its market share in China and Europe.
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