How VW's crisis could reshape the global car industry
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To play this audio please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video This transcript was created using transcription software. 00:00:00:04 - 00:00:33:05 Daniel Volkswagen is reportedly plotting the biggest cuts in its history. Tens of thousands of jobs, whole factories on the chopping block. For decades, the company has been a shining example of precision industry and secure German jobs. That promise is now cracking. Behind Volkswagen's crisis sits a much bigger one. An entire industry watching cheaper, faster rivals from China eat into markets it once dominated. 00:00:33:07 - 00:01:01:17 Daniel Unions are furious. The government is on edge. Volkswagen's own leadership is coming to terms with an old model that just doesn't work anymore. And what happens next could decide whether Germany's car industry has a future at all. Welcome to the Dip, your podcast for money, power and consequences. I'm Daniel. Chinese carmakers are undercutting Volkswagen on price and speed. 00:01:01:17 - 00:01:34:00 Daniel In Europe and in China, US tariffs are costing the company roughly €4 billion a year, and net profit shrank 28% year on year. Here's what makes this different to a normal restructuring story. German code termination rules give employee representatives half the seats on the supervisory board that must approve any overhaul. Management can't...
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