Blockade & Diesel-Gate

Major VW crisis: the problem is the “sacred cow”

The news hit like a bombshell: the situation at Europe's largest car manufacturer Volkswagen is coming to a head, and the management of the core VW brand is no longer ruling out plant closures and compulsory redundancies. Billions are missing, the crisis could also affect successful Austrian suppliers (see below). Krone+ analyzes why it has come to this. 

It sounds dramatic: "From the point of view of the Board of Management, the core VW brand must be comprehensively restructured," it said. "Even plant closures of vehicle production and component locations can no longer be ruled out in the current situation without rapid countermeasures." In addition, the planned job cuts through partial retirement and severance payments are no longer sufficient to achieve the planned savings targets.