Global Auto Industry Faces Post-Pandemic Struggles After Record Profits
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Major automakers worldwide are grappling with serious challenges after enjoying record pandemic-era earnings. The industry faces an expensive EV transition, growing Chinese competition, and overcapacity issues as the favorable supply-constrained market conditions fade away.
Volkswagen CEO Faces Worker Backlash Over Cost-Cutting Plans at Wolfsburg Plant
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Volkswagen Group CEO Oliver Blume encountered fierce opposition and boos from 20,000 workers during his address at the Wolfsburg plant, defending potential job cuts amid mounting Chinese competition. The confrontation highlights growing labor tensions as VW grapples with declining EV sales and market pressures.