Crisis Deepens for German Automakers as Volkswagen, BMW, and Mercedes-Benz Face Challenges
The German automotive industry is grappling with significant challenges, including layoffs, profit declines, and strikes. Volkswagen grapples with potential job cuts despite recent record profits, while BMW manages to remain stable amid declining Chinese sales. Mercedes-Benz announces a cost-saving program as it faces falling revenues and low sales of electric vehicles. Analysts indicate that structural issues post-pandemic have intensified, raising fears of a difficult future for these key players in the auto market.