Volkswagen CEO Oliver Blume announces plans to cut a further one million units of production capacity, aiming to reduce global output to nine million cars annually
VOLKSWAGEN plans to cut its production capacity by another one million cars. CEO Oliver Blume revealed the plan in an interview with business news outlet Manager Magazin.
“We’re currently looking at cutting a further million units of capacity to reflect the global market situation,” Blume said.
The CEO stated the company is investing heavily in new products while taking extensive measures to adjust output.
Volkswagen aims to reduce its global production capacity to nine million cars per year.
This target is down from an original capacity of 12 million units annually. The latest cut is part of ongoing efforts to align production with market demand.
