Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
Germany’s largest automaker rode a wave of strong sales for years, but lagging demand and pressure from China are forcing it to consider layoffs.
The automaker reported a gain of 6.4 percent for the latest quarter, its first such increase this year.
For the first time in its 87-year history, the automaker is considering shuttering factories in Germany, citing the need to remain competitive.
The European Union took the next step toward collecting heavy tariffs on electric vehicles, ahead of a final decision in October.
VW and Rivian, a maker of electric trucks that has struggled to increase sales and break even, will work together on software and other technologies.
As the European Union moves to impose tariffs on Chinese cars, Germany, with an auto industry deeply enmeshed with China, is stuck in the middle.
The United States and Europe are trying to catch up to a rival skilled in using all the levers of government and banking to dominate global manufacturing.
Treasury Secretary Janet L. Yellen warned that China’s industrial strategy posed a global threat that requires a united response.
La economía china se beneficia del aumento de las ventas de productos manufacturados al exterior, que crea empleos. Pero el impacto podría sentirse en las fuerzas laborales de Europa y Asia.