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Germany-based Volkswagen is considering closing plants in its home country as automakers in the European Union grapple with a flood of cheap China-made cars that are increasingly making up a share of auto sales in the continent.
“The European automotive industry is in a very demanding and serious situation,” Volkswagen Group CEO Oliver Blume said on Monday, suggesting VW may close some of its plants in Germany and drop some job protections for auto workers to cut costs.the automaker closed a plant in its home country and the first time it closed a plant worldwide since closing its Westmoreland, Pennsylvania, plant in 1988.share of the EU market in June of this year.
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