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Key points
- Volkswagen has proposed cutting up to 100,000 jobs and closing four German factories, but unions and Lower Saxony oppose the plans.
- Mercedes-Benz agreed with its works council to pursue €5 billion in savings by 2027 without compulsory redundancies at German plants.
- Audi plans to cut up to 7,500 German jobs by 2029; Volkswagen has also listed its Neckarsulm plant for possible closure in 2030.
- BMW reported second-quarter net profit of €1.2 billion, down 35%, and warned of a significant profit decline for the year.
How the story developed
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Latest development
BMW reported weaker second-quarter results after announcing up to 8,000 job cuts, citing falling Chinese sales and intensified electric-vehicle competition.
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