Volkswagen VZ Stock News

BMW, Audi and Volvo are among the automakers trying to boost U.S. sales to offset weakness in Europe and China.

The German automaker has been working on a broad cost-cutting plan throughout 2025 and 2026 following an agreement with its powerful unions that included 50,000 job cuts in Germany by 2030 and billions of euros a year in cost savings.

Germany's top industrial union ​IG Metall threatened an escalation in its dispute ‌with Volkswagen over German job cuts on Wednesday, after the carmaker said it plans to terminate a number of wage agreements, ​according to a union statement.

Volkswagen on Monday said it would ​deepen its partnership with ‌Gotion and accelerate the development of a European battery ​supply chain through ​a series of joint ventures, ⁠while separately agreeing ​to sell a 5.3% ​equity stake in the Chinese battery maker.

Volkswagen CEO Oliver Blume may have got the green light from stakeholders for his turnaround plan, but he faces tough talks in Germany over job cuts and plant ​closures as well as fundamental questions over the automaker's US strategy.

Volkswagen launched presales of its second model jointly developed ​with EV maker Xpeng in China on Thursday, expanding its electric vehicle ‌offensive to catch up with Chinese rivals.

Long Volkswagen's most reliable profit driver, luxury sports car maker Porsche has become its biggest problem, creating a road ​bump for CEO Oliver Blume's restructuring plans at Europe's biggest carmaker.

The protest comes as the industry grapples with intensifying competition from Chinese rivals, both in China and increasingly in Europe, rising manufacturing costs and U.S. tariffs.