‘Cannot Continue’: Major Automaker Hits The Gas On Cost Cuts Amid Tepid EV Demand, Increased Chinese Competition
1 sourceUpdated Jul 1, 2026
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Volkswagen (VW) said Wednesday that it needs to cut costs amid slackening consumer demand for electric vehicles (EVs) and weaker car sales in China. VW’s profits fell 64% in the third quarter of 2024, driving the…
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