Volkswagen brand must not 'slacken' turnaround efforts, CEO says

FRANKFURT, March 4 (Reuters) - Volkswagen VOWG_p.DE, Europe's top automaker, needs to keep up turnaround efforts at its namesake brand, the division's CEO said on Wednesday at a staff meeting.

The comments underscore ongoing efforts to reduce costs and revive sales in some markets by the Volkswagen brand, which is at the centre of up to 35,000 job cuts agreed with unions at the end of 2024.

• "The Volkswagen brand is making progress, and the figures show that we are on the right track. We are once again the clear number one in Europe," Volkswagen brand boss Thomas Schaefer said in excerpts of a speech.

• "North America remains challenging, while China stabilised in 2025 but remains a competitive market. We have worked hard to achieve this position," he added.

• "We are heading in the right direction, but we have not yet reached our goal and must not slacken our efforts now. Our goal is clear: to make Volkswagen the world's leading volume manufacturer in terms of technology again by 2030."

• Volkswagen Group plans to invest 160 billion euros ($186 billion) through 2030, its CEO Oliver Blume said in December, reflecting belt-tightening as Europe's top automaker faces a major crisis in its two key markets, China and the United States.

• In Europe, Volkswagen brand deliveries rose 5.1% in 2025, while sales in China and North America fell 8.4% and 8.2%, respectively.