Kicking the can down the road, in true socialist fashion, imho.
VAG €190 billion in debt. Productivity, especially in the factories saved from closure, already dramatically below BYD, for example. Labour cost per vehicle in Germany €7000 vs 2000 in China. Keeping the factories open whilst reducing the workforce by 35,000 of current 120,000 cannot improve those ratios. The CFO recently stated that the roof was on fire and now no extinguisher in sight.
bought my first VW, a mk 2 GTI, in 1987. Six more since plus 3 on MB and two Skodas. Sad to see their decline. The good news is Honda’s tie up with Nissan that should save the North East and talk of a Honda production line. I had a Swindon built CRV, which was an excellent car. Swindon shut because the EU removed tariffs on Japanese built cars. Just love politicians.