Sebastien Ash and Kana InagakiJun 28, 2026 – 8.02amFrankfurt | London | German carmakers are embarking on their deepest ever restructuring to stem “the bleeding” from an influx of Chinese rivals that analysts warn could “permanently” shrink the backbone of Europe’s largest economy.Volkswagen is preparing to expand its cost-cutting measures by axing as many as 100,000 jobs over the coming years and ending production at four plants in Germany.Financial TimesSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
German carmakers on their knees as Chinese EVs flood market
Germany’s automaker giants are planning historic job cuts as analysts warn the wave of cheap Chinese models into Europe is proving critical.
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