"We are on the right track, but we have not yet reached our goal and must not let up in our efforts now," Schäfer said on Wednesday, according to the text of his speech at a staff meeting. The aim is to make Volkswagen the world's leading volume manufacturer in technology by 2030.
The Wolfsburg-based automaker wants to cut costs and boost sales in several markets. The core VW brand is at the center of a plan agreed with unions at the end of 2024 to reduce up to 35,000 jobs.
Schäfer said the VW brand is making progress and has regained its position as the clear number one in Europe. Deliveries of the brand in Europe rose by 5.1 percent so far this year. In contrast, sales in China and North America fell by 8.4 and 8.2 percent, respectively. "North America remains a challenge, while China has stabilized in 2025, but remains a highly competitive market," Schäfer added.
(Reporting by Christoph Steitz, written by Ralf Banser, edited by Sabine Ehrhardt - For inquiries, please contact the editorial management at berlin.newsroom@thomsonreuters.com (for politics and economy) or frankfurt.newsroom@thomsonreuters.com (for companies and markets).)
