German automobile giant Volkswagen (VW) announced its financial results for the July-September period of 2024 on the 30th, with net profit down 68.8% from the same period last year to 1,212 million euros (approximately 200 billion yen). The struggle in the Chinese market was felt.
“Significant cost reductions and efficiency improvements are urgently needed,” VW said in a statement. The company is considering closing at least three factories in Germany in order to rebuild its business. The company is also looking to cut tens of thousands of jobs and lower wages for its employees. (joint)
Source: Japanese