Volkswagen looks to cut costs after steep profit drop

#volkswagen #yahoofinance #automobile

Volkswagen (VWAGY) is looking to cut costs after posting disappointing third quarter results. The company saw a 42% decline in operating profit in the quarter due, in part, to a steep drop in China demand. Labor representatives recently said the automaker plans to close 3 German plants due to its struggles. Yahoo Finance Senior Autos Reporter Pras Subramanian breaks down the details. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. This post was written by Angel Smith

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[BasilBeaton]

Why don't they try cutting prices before cutting costs?

[mukithebar]

Government bail outs of the automotive industry same like 2008 financial crisis

[JohnSmith-emks]

As a former corporate VW guy, I can say that VW is letting go it's older staff with 30 plus years of experience in the field in place of hiring young SW engineers with zero real world experience. They could not change a flat tire.
Let's get back to basics, the people's car. Cheap, reliable and iconic. But no. Idiot's competing against themselves and China. Dead end for VW. I'm just a stupid engineer of 40 years, don't listen to me.

[YVpilot]

For example, who is going to buy an Amorok with a 4 cilinder engine...