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German minister suggests higher EU tariffs on Chinese cars

Thu, 16 Jul 2026 10:04:10 -0400

Investing.com -- A German state minister called for the European Union to consider higher tariffs on cars manufactured in China as a way to encourage Chinese automakers to form partnerships with European companies like Volkswagen.

Dirk Panter, economy minister in the eastern state of Saxony, told the Bild newspaper on Thursday that the EU needs to consider imposing higher tariffs on Chinese-made cars. Saxony is home to a Volkswagen plant.

The comments come after Volkswagen threatened to close four German factories in the coming years, including the all-electric Zwickau plant in Saxony, if no other solution is found.

Volkswagen CEO Oliver Blume has

German minister suggests higher EU tariffs on Chinese cars

Thu, 16 Jul 2026 10:04:10 -0400

The comments come after Volkswagen threatened to close four German factories in the coming years, including the all-electric Zwickau plant in Saxony, if no other solution is found.

Volkswagen CEO Oliver Blume has

Volkswagen launches budget electric SUV in EU amid pricing concerns

Wed, 15 Jul 2026 06:56:11 -0400

Investing.com -- Volkswagen AG introduced a new compact electric SUV priced at approximately €28,000 ($32,000) as European consumers move away from gas-powered vehicles. The ID. Cross is now available for order, with sales of a smaller battery version to begin at a later date, the company said Wednesday.

The new model expands Volkswagen's lineup of lower-cost electric vehicles, which includes the new Polo, Cupra Raval and Skoda Epiq. All models will be manufactured in Spain, where production costs are lower than in Germany.

Sales of battery-electric and plug-in hybrid vehicles in Europe rose 29% through the first five months of this year,

Volkswagen deliveries fall 8.6% in second quarter amid China drop

Fri, 10 Jul 2026 06:03:21 -0400

Investing.com -- Volkswagen AG reported an 8.6% decline in global deliveries during the second quarter on Friday, as a sharp drop in China offset gains in North America and Western Europe.

Deliveries in China, the automaker's largest market, fell 36.6% during the quarter. Sales rose 7.7% in North America and 1.8% in Western Europe, the company said in a statement.

"The situation in China remains challenging, where we were unable to escape a significant total market decline of around 20 percent," Marco Schubert, a member of Volkswagen's extended executive committee for sales, said in a statement.

Volkswagen is the latest German automaker to

Volkswagen labor union vows to fight factory closures

Thu, 09 Jul 2026 06:43:38 -0400

Investing.com -- Volkswagen AG faces strong opposition from labor leaders as the company considers large-scale job cuts and factory closures in Germany. The confrontation came to a head Thursday during a supervisory board meeting.

"This is a clear signal to the management board: Not with us," IG Metall union chairwoman Christiane Benner said Thursday in a statement. "The employees have made their contribution."

The automaker is working to reduce costs and improve efficiency as profits decline in China, its largest market. Chief Executive Officer Oliver Blume and other top executives have called for measures to boost competitiveness, particularly at German operations where

VDA chief warns of new layoffs and plant closures for German car makers

Wed, 08 Jul 2026 11:06:28 -0400

Investing.com -- Europe's automotive manufacturers face additional job reductions and factory closures as the industry works to regain competitiveness, according to Hildegard Müller, president of Germany's VDA automotive lobby.

Müller said Wednesday that carmakers including Volkswagen AG and Stellantis NV have dealt with high energy and labor costs, along with bureaucratic obstacles that have weakened their position against competitors. She called for accelerated reforms to reduce damage to the region's industrial sector.

Chinese carmakers are expanding their presence in Europe while costs for electric vehicle production in the region remain elevated. Volkswagen, Europe's largest automaker, plans to discuss doubling job cuts in

VDA chief warns of new layoffs and plant closures for German car makers

Wed, 08 Jul 2026 11:06:28 -0400

UBS flags 2 car stocks as best Buy ideas into the Q2 earnings print

Tue, 07 Jul 2026 12:00:00 -0400

Analysts at UBS expect a rocky second-quarter earnings season for European automakers, with weak Chinese demand and rising restructuring charges pressuring most manufacturers. Still, the bank identified two names as well-positioned into the results.

The sector faces a difficult backdrop, the analysts argue, with Chinese demand falling roughly 20% year-on-year in the second quarter, while the country’s automakers' market share in Europe rose to about 11% from 4% a year earlier.