Volkswagen Reviews Discontinuation of Up to Half Current Vehicle Models

Volkswagen is advancing a restructuring plan to enhance competitiveness by 2030, aiming to reduce its current vehicle model lineup by up to 50% and cut option complexity by 100% in key markets. The plan, unveiled to the supervisory board, includes streamlining product portfolios, adapting technologies to regional markets, adjusting production capacity to market demand, and simplifying organizational structures. The core strategy focuses on concentrating resources on high-value segments, reducing complexity to accelerate innovation and strengthen the company's resilience. This move follows a 20% sales decline in China during the first quarter of 2023, as the group faces challenges maintaining profitability in its largest market.