Volkswagen has unveiled its strategy through to 2030, including plans to halve the number of models it offers and reduce the number of vehicle variants by as much as 75% in an effort to cut costs and complexity.
The announcement followed a closely watched meeting of the German carmaker's supervisory board, which reportedly discussed one of the largest restructuring programmes in the history of the global automotive industry.
Europe's biggest carmaker is under pressure from US tariffs, weaker profit margins on electric vehicles and, above all, fierce competition in China, the world's largest car market.
As the board met at Volkswagen’s headquarters in Wolfsburg on Thursday, IG Metall, one of Germany’s largest trade unions, organised coordinated protests across the country. One demonstration was held outside the headquarters, while further action took place at around 20 Volkswagen, Audi, Porsche, MAN and Cariad sites.
Union representatives warned that management risked a "major conflict" with workers. Volkswagen is reportedly considering cutting 100,000 jobs worldwide — more than 15% of its workforce — and closing four plants in Germany: Volkswagen factories in Hanover, Emden and Zwickau, as well as Audi's Neckarsulm plant.
