Volkswagen considers closure of historic German plant to cut cost

Q: How long will it take to read this news story?

The story "Volkswagen considers closure of historic German plant to cut cost" has 543 words across 20 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Volkswagen considers closure of historic German plant to cut cost" was covered 7 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 343 news stories per day. It's most recent story was published 5 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22333542</li><li>URL: https://beamstart.com/news/volkswagen-considers-closure-of-historic-172529363</li></ul>

Business Standard Logo Business Standard 7h ago

Volkswagen considers closure of historic German plant to cut cost - Business Standard

Quick Summary:

A difficult economic environment, new competitors in Europe, and the falling competitiveness of the German economy meant Volkswagen needed to do more, Blume told its management.

Volkswagen is considering closing factories in Germany for the first time, in a move that shows the pressure Europe's top carmaker is facing from cheap Asian competition.

VW, which drives most of Volkswagen's unit sales, is the first of its brands to undergo a cost-cutting drive targeting 10 billion euros ($11 billion) in savings by 2026 as it attempts to streamline spending to survive the transition to electric cars.