Volkswagen will stop manufacturing vehicles at its site in Dresden after Tuesday, marking the first time in the carmaker’s 88-year history that it will close production in Germany.
The closure of the plant’s production line comes as Europe’s largest auto manufacturer is under cash flow pressure as a result of weak China sales and demand in Europe as well as US tariffs weighing on sales in America.
Volkswagen has been wrestling with the allocation of its investment budget of about €160bn over the coming five years, with a longer lifespan expected for petrol-engine cars. The rolling budget which is updated annually, has been slashed over the recent years. For the period from 2023 to 2027 the equivalent figure was €180bn.
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