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Keywords: Oliver Blume
Volkswagen is preparing for a major restructuring aimed at significantly reducing costs and improving profitability, with up to 50,000 jobs potentially affected worldwide in the coming years, around half of them in Germany. The German automaker’s supervisory board has unanimously approved a broad......
Volkswagen is facing one of the most difficult periods in its history as weak global economic conditions, excess production capacity and growing competition from Chinese automakers put increasing pressure on Germany’s automotive industry. Volkswagen Group chief executive Oliver Blume has warned......
German automaker Volkswagen posted a steep decline in second-quarter earnings after weaker sales in China and significant one-off charges weighed heavily on its financial performance. The disappointing results underline the mounting challenges facing one of Europe's largest car manufacturers as global......
Employees at Volkswagen will have the opportunity to question Chief Executive Officer Oliver Blume during extraordinary staff assemblies scheduled for late August, as concerns grow over the company's restructuring plans and the future of thousands of jobs. According to the company's works council,......
Volkswagen's efforts to advance a broad restructuring plan remain clouded by uncertainty after high-level discussions with key stakeholders concluded without clear announcements on the company's proposed cost-cutting measures. A meeting of the German automaker's supervisory board ended late......
Tariffs are expected to reduce annual operating profit at German automotive group Volkswagen AG by around €5 billion ($5.9 billion), according to CEO Oliver Blume. Speaking at an event in Barcelona, Blume said the measures represent a significant financial burden for the company, which remains......
CEOs of Europe's two largest carmakers are urging the European Union to shield the domestic auto industry from intensifying competition by Chinese manufacturers across the continent. Volkswagen CEO Oliver Blume and Stellantis CEO Antonio Filosa published a joint op-ed Wednesday evening in three......
Investors are pressing Volkswagen CEO Oliver Blume for concrete results in what they view as a make-or-break year for the German automaker. Now freed from his dual role at Porsche, which ended January 1, Blume has a narrowing window to halt the company's decline in China and address critical technology......
Porsche AG has reported its first quarterly loss since becoming a publicly traded company, with an operating deficit of €967 million ($1.1 billion) for the third quarter of 2025. This dramatic downturn reflects the luxury automaker's costly strategic pivot on electric vehicles (EVs) and weak......