Volkswagen plans to cut its production capacity by another one million cars, CEO Oliver Blume said in an interview with business news outlet Manager Magazin published on Tuesday.
“On the one hand, we’re investing heavily in products. At the same time we’ve already taken extensive measures. We’re looking at cutting a further million units of capacity to reflect the global market situation,” Blume said.
Overall, Volkswagen aims to cut capacity to nine million cars worldwide per year from 12-million, the CEO added.
Reuters
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