It was long overdue. They have twice as many employees as Toyota, yet they still sell fewer cars. Now they’re cleaning up the mess at the state-owned enterprise, and taxpayers are footing the bill. The transformation is going well for VW. Starting in 2027, the Golf will be built in Mexico. The Passat will come from Slovenia, and the next-generation Bus will be built in Turkey. The ID.2 will be built in Spain. Vertical integration and value creation in Germany are being scaled back. They’re on the right track. So share prices in the 130 range are already realistic starting in late 2028.
