Volkswagen CEO Oliver Blume stated that he is trying to avoid plant closures in an effort to improve the automaker’s results. “There are smarter solutions than closing plants,” Blume told the newspaper Bild am Sonntag. He added that a cost-cutting program in Germany is already bearing fruit.
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“Just last year we managed to improve our production costs in Germany by an average of 20%,” he emphasized, describing this result as a “significant progress.” Blume argued that Volkswagen products are very popular, but “we simply earn too little from them. We therefore need to continue reducing our costs. In all types of costs.”
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Last week, the Wolfsburg, Germany-based company announced that its “fundamental restructuring” over the past three years has entered the next phase, announcing plans to streamline the model range by reducing it by up to half. Media had revealed that Volkswagen is also planning to close four plants in Germany between 2031 and 2034.
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