The Volkswagen Group will cut 60 percent of its ICE-powered range in Europe by 2030 and shift its focus on margins instead of quantity by focusing on more profitable premium cars. This represents a significant departure from the growth-focused strategy in the past decades that made VW Group the largest automaker in the world in 2015 before being overtaken again by Toyota in 2020.
The German automotive giant that currently has a range of more than 100 models across all brands, has already started dropping petrol-powered and diesel-powered models in favor of electrification. However, the group’s new strategy isn’t entirely due the forthcoming ICE-ban in major western markets, as the supply shortage has played a significant role in their decision too.
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