Volkswagen is in turmoil, with sales crashing in China, leading to the biggest slump in four years. A plan to overhaul its operations, put forth by CEO Oliver Blume, was rejected after union representatives in the Supervisory Board voted against it. Oliver Blume is now left to deal with the fallout, while unions will likely be left to turn off the lights after Volkswagen runs into the ground.
Three years after its "roof is on fire" moment, Volkswagen hasn't yet come to terms with its diminished position on a market dominated by Chinese carmakers. The company just reported the biggest sales slump in four years, with deliveries falling 8.6% globally in the second quarter. Even though Volkswagen reported sales increases in Europe and North America, China was a total disaster, with sales tumbling 36.6% in the quarter.
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