Profit warnings have come from a sector facing weak sales at home, intense competition in China and slowing EV demand
The lower guidance comes the carmaker looks to close plants in Germany for the first time in its 87-year history
Calls mount for Volkswagen chief to focus on restructuring as management tries to close German factories and cut jobs
Long considered a symbol of Germany’s industrial power, the company is now reckoning with a difficult transition to electric vehicles
Move follows FT report on an audit clearing the carmaker of forced labour at its plant in western China
Leaked report, which the carmaker claimed cleared it from forced labour allegations, shows audit fell short, according to experts
City fears loss of identity as Germany’s largest private employer moves to break its job security pledge
Awards highlights include: generative AI, social mobility in law firms, dealmaking, sustainability and the most innovative law firms and individuals
Trade union responds by threatening strike action at Europe’s largest carmaker
Top executives at Cariad sidelined in a deal that has upended German carmaker’s tech strategy
Works council chair claims ex-CEO left company ‘empty-handed’ when it came to dual-fuel vehicles
The uncertain move towards electrification coupled with a slump in sales overall pose investment problems
Europe’s largest automaker has sparked fury over a cost-cutting plan to adjust to weak demand for EVs
Finance chief says drastic cost-cutting measures necessary amid weak demand in Europe
Savings programme launched last year has fallen short by several billions of euros at group’s flagship brand
Family-controlled investment vehicle considers ‘potential further investments’ as valuations fall
Sluggish demand and competition from new entrants bodes ill for capacity utilisation
Investment of up to $5bn in US start-up Rivian an effort to reboot software ambitions and North American presence
Hitching a ride with fleeter-footed rivals is one way to try to accelerate its transformation
Partnership agreement would give German carmaker ‘immediate access’ to start-up’s EV software
Move risks ‘retaliation’ against international brands in the country, German carmaker’s brand chief tells FT car summit
Industry faces headwinds including price wars and higher interest rates that have put off consumers
Victory was part of a $40mn campaign to organise workers at 13 mostly foreign-owned carmakers across the US
Wealthy customers are pouring more money than ever into customisation, pushing carmakers to invest in supply chains and dedicated teams
