Protests for Germany’s car industry as job losses loom

A combination of Chinese competition and US tariffs is causing problems in Germany.

The short version

• Factory closures now seem not just possible but likely, something that would have been unthinkable just a few years ago.
• Earlier this summer, news emerged that Volkswagen Group is considering closing four of its German factories to prepare for the future.
• Things have not gotten much better for VW Group in the months since that news broke.

What happened

That’s partly why VW Group had to write down $11.5 billion (€10 billion) on Friday, $6.9 billion (€6 billion) of which was as a result of its 75 percent stake in Porsche. Faced with the likelihood of a terrible 2026, VW may speed up its plan to shrink its workforce.

Why it matters

“I had hoped that the measures agreed in 2024 would already be sufficient.

Summary by Nerd News Network. Read the full article at Ars Technica via the links above and below.