In its annual figures, the company said that earnings fell from €12.4 billion ($14.45 billion) to €6.9 billion year on year.
Volkswagen CEO Oliver Blume said the VW Group would cut “around 50,000 jobs by 2030” across Germany.
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No worries.
They just found 6 mrd. € the other month and wanted to pay dividends to shareholders and give a bonus to the management.
mrd ??
mrd. = Milliarden = billion
A billion is called a milliarde and abbreviated mrd., md. or mia. in different countries.
The amercian-english billion substituted the milliarde in e.g. finance speak, but isn’t dead, yet. E.g. there is still the british-english milliard.
Transition to EV is expensive, and doubling the product line having both ICE and EV is also expensive.
On top of that competition is very tough with new competition from China.So all things considered, I think they are meeting the challenges pretty well.
VW is the most sold EV brand in EU, and their MEB platform sold though many other VW group brands dominate EV’s in EU with more than 50% marketshare!The cars are praised for their quality in several aspects, so it’s not like they have degraded on quality like Stelantis brands have done to keep up profitability. So I think VW is in a good place long term.
It’s going to be interesting to see how their new EVs to be released this year are going to perform. I think something like the T-Cross ID and smaller EVs could really hit a nerve if pricing is OK and the issues around gas prices would prolong throughout this year. I hope people get fed up and start to see advantages of EV and every new model, no matter which brand, could help with this.
The upcoming ID Polo will almost guaranteed be a major hit in my country. if what VW promises is true.
Being a cheap quality EV with good range.For many EV just has no advantages.
It’s nice if you have a loading station at home or at work that you can use… public loading is more expensive and you have to do something during loading time… and there are still not many fast loading stations, at least not where i’m living. And every loading stations has a fucking different provider, so you have 10 apps on your phone…
Agree that for people without a charging box at home the advantages might be reduced atm, but having more home owners buy EVs, requesting better charging infrastructure and potentially reduce costs in public charging stations could also pave the way for more acceptance.
To your point regarding providers at charging stations: I’ve only seen the situation in Germany and it’s indeed very inconvenient and I don’t understand how we ended up in that situation. Also I don’t understand how the prices are that much higher than electricity at home? Why can’t you just not use your credit card for payment?
€6.9 billion year on year.
compare that to 5 billions which the US spent on ammunition only in the first days of this war.
This amount could provide two or four billion people - most poor people on our planet - with food for a week. Let that sink in.