Volkswagen’s management plans to drastically reduce its model lineup and further cut capacity, although the German auto giant stopped short of announcing sweeping job cuts following tense stakeholder talks.
Europe’s largest automaker on Thursday said the model lineup will be gradually cut by up to half over the coming years as it concentrates on the most attractive market segments.
Production capacity, meanwhile, will be reduced to nine million vehicles per year, compared to a goal of 12 million before the coronavirus pandemic.
