The VW diesel scandal remains a key issue in the automotive industry and has far-reaching consequences for the company. The latest verdict in the trial brings to light the legal and financial consequences of the manipulations. These verdicts are not only important for Volkswagen $VOW3 (+2,74 %) but also have an impact on the entire industry, as they could influence how similar scandals are handled in the future. The legal disputes, combined with massive financial burdens, represent a major challenge for VW. These problems will keep the company busy for a long time to come and it remains to be seen how the situation will develop.
In the USA, Volvo $VOLV A (+4,83 %) is facing a difficult phase and is planning to cut 3000 jobs worldwide. CEO Hakan Samuelsson emphasizes that the automotive industry is undergoing a profound upheaval that requires serious decisions. In order to meet the challenges of this new reality, costs must be structurally reduced. Weak figures were already presented in the first quarter, underlining the need for job cuts. The measures are aimed at saving a total of 18 billion Swedish kronor, which corresponds to around 1.7 billion euros. To implement these drastic measures, special costs of around 1.5 billion Swedish kronor, i.e. around 140 million euros, will initially be incurred in the second quarter, which underlines the seriousness of the situation.
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