William Wilkes

Management is arguing the automaker needs an all-hands overhaul, including a carve-out of the VW brand, to withstand mounting competition from Chinese rivals.

Porsche AG deliveries slumped 16% in the first half, dragged down by weak demand in its biggest market of North America and a decline of nearly a third in China, adding to the gloom enveloping Germany’s autos sector.

(Bloomberg) -- Porsche AG deliveries slumped 16% in the first half, dragged down by weak demand in its biggest market of North America and a decline

(Bloomberg) -- Porsche AG deliveries slumped 16% in the first half, dragged down by weak demand in its biggest market of North America and a decline

Volkswagen AG’s powerful labor leaders vowed to fight against plans for large-scale job cuts and factory closures in Germany ahead of a closely-watched meeting of key investors and stakeholders.

Automaker could double planned job cuts to 100,000 and close four plants in Germany The VW factory in Wolfsburg, Germany. (Krisztian Bocsi/Bloomberg)

Volkswagen AG’s management said it plans to cut the carmaker’s sprawling model lineup by as much as half, a limited savings push after a supervisory board meeting that stopped short of agreeing on deeper workforce reductions.

Die Volkswagen AG hat angekündigt, ihre umfangreiche Modellpalette um bis zu 50% zu reduzieren. Die Sparmaßnahme wurde nach einer viel beachteten Aufsichtsratssitzung bekannt gegeben, die keine Einigung über weitergehende Stellenstreichungen brachte.

(Bloomberg) -- Volkswagen AG plans to cut its sprawling model lineup by as much as half, part of a savings push that fell short of expectations for progress on deeper workforce reductions and plant closures in Germany.Most Read from BloombergMicrosoft’s Xbox to Shift Obsidian Studio to New ‘Fallout’ Video GameNvidia’s $1 Trillion Slide Sends Valuation to Pre-AI Boom LevelsZuckerberg Pledges ‘Aggressive’ Pricing With Meta’s First Pay-to-Use AITrump Vents Anger With Iran and Warns Ceasefire May Be

Sales were dragged down by weak demand in its biggest market of North America and a decline of nearly a third in China.