Volkswagen Group plans to cut half of its car models
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Volkswagen Group just announced plans to cut up to one-half of its car models across brands like Audi, Porsche, Skoda, and Bentley.
The idea? Focus on cars that actually make money, rather than offering tons of choices.
CEO Oliver Blume even mentioned that the company also plans to trim down options for the remaining models by as much as 75%.
Volkswagen plans 1 million fewer cars
VW also plans to build one million fewer cars a year as part of its cost-cutting push.
While no factories are closing (for now), there's talk that up to 120,000 jobs could be at risk worldwide.
On a brighter note, Skoda says it's not affected and all its factories are running smoothly.