The plan of cost reduction Volkswagen may soon be reinforced at home. The crisis due to the impact from Coronavirus has hit the German car manufacturers hard, including that of Wolfsburg, which is preparing for a new wave of cuts to replenish its coffers. At the moment there is still nothing official, but it is not difficult to believe that this solution is more plausible than ever in this precise historical phase.
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Meanwhile, according to what reported by Reuters, a German brand spokesperson would have confirmed that during a brand internal event, the will emerged to put in place additional cost-cutting measures, which may be necessary to respond to the pandemic, even if at the moment there are no concrete decisions. The speech made by the German portal is different Automobilwoche, which instead explains how CEO Herbert Diess himself announced these cuts to the top managers of the brand. “We have to significantly reduce R&D expenses, investments and fixed costs compared to what we had previously planned”, Volkswagen’s number one said, convinced that the brand’s net liquidity will not increase at least until the month of July. In the meantime, Diess himself is preparing to trigger a carambola of charges: Volkswagen is in fact ready to take over Porsche’s Oliver Blume, who will in turn be replaced by Bernard Maier of Skoda.