Volkswagen to cut capacity further by one million cars, CEO tells Manager Magazin

Volkswagen said it will cut production capacity by a further one million cars, bringing targeted annual capacity to 9 million from an original 12 million, CEO Oliver Blume told Manager Magazin. The move, framed as aligning capacity with a weaker global market while investments continue in products, signals a marked production downshift at Europe’s largest carmaker. For markets, the announcement is likely to weigh on German auto stocks and the Germany 40 index (DAX), given Volkswagen’s size and supplier linkages, and could pressure investor sentiment across related industrial and autos sectors.