Oliver Blume

Volkswagen reported an 8.6% decline in group sales in Q2 2026, with a significant drop in China. The company announced plans to reduce its model lineup by nearly half as part of a 'fundamental realignment' to improve competitiveness, citing challenges like geopolitical tensions, tariffs, and stiff competition, particularly from Chinese electric vehicle manufacturers.

Volkswagen reported an 8.6% sales decline in Q2, with a significant drop in China, as the automaker announced plans to reduce its model lineup by up to half. CEO Oliver Blume emphasized streamlining operations to improve competitiveness amid rising costs and stiff competition, particularly from Chinese electric vehicle manufacturers.

Volkswagen reported a significant sales decline, particularly in China, and announced plans to reduce its model lineup by nearly half to improve competitiveness. CEO Oliver Blume emphasized streamlining operations and addressing challenges like rising costs and stiff competition, while a protest occurred at a Zwickau plant over job concerns.

Volkswagen reported an 8.6% sales decline in Q2, with a significant drop in China, and announced plans to reduce models by nearly half to streamline operations. CEO Oliver Blume emphasized reducing complexity and improving competitiveness amid rising costs, geopolitical tensions, and stiff competition, while protests emerged over job concerns at a Zwickau plant transitioning to electric vehicles.

Volkswagen faces protests in Germany over a proposed plan to cut up to 100,000 jobs and close factories. The union IG Metall organized demonstrations at 18 sites, including the company's headquarters, criticizing CEO Oliver Blume for shifting blame to workers for past failures.

Volkswagen CEO Oliver Blume announced plans to reduce 19,000 jobs by year's end. Over 28,000 binding departure agreements have been reached for 2030, as disclosed to shareholders.