I=5, VW brand
CEO Oliver Blume reiterated that urgent measures are needed to secure the company’s future, adding that pricing pressure is immense while demand is falling
- In a meeting with employees today, CEO Oliver Blume insisted that the situation at the company is serious and urgent measures are needed.
- He pointed out that the price pressure is immense and demand is falling.
- Blume flagged new competitors that are entering the market “with unprecedented force” and usually with higher margins, adding that the market in Europe is shrinking.
- Blume reiterated that the proposal from the works council is still far from sufficient to defend the company’s future.