Volkswagen may record 3-4 billion euro provisions for capacity cuts, including possible plant closures in Germany.
Brokerage Jefferies has indicated that Volkswagen may record provisions of 3-4 billion euros for capacity cuts in the fourth quarter. This comes as the company considers shutting down plants in Germany for the first time to reduce costs amid rising competition from Asia. Jefferies noted Volkswagen's urgent efforts to address excess capacity, with no alternative plan in sight that would avoid these reductions.
September 16, 2024
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