Quote:
Originally Posted by AstulzerRZD
imo this is just the start.
VW, Nissan, and Stellantis are structurally fucked.
VW's already going at it with their unions and soon the goc.
Stellantis is already going at it with their gov.
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I agree that VW is seriously fxxked. They can't lower their labour costs nearly enough to be competitive, or maybe even just stay in business. If you look at it that way, they can only go bankrupt.
On the other hand, the state of Lower Saxony owns over 10% of the company, and has a 20% voting right. Given how big an employer VW is in Germany, I don't see how the Lower Saxony gov as well as the Germany gov will allow VW to fail. VW is essentially Germany's version of GM. Just as the US gov has bailed GM out in 2009, I'd also expect the state and federal govs in Germany to bail VW out one way or another as well.