Volkswagen confirmed on 9 July that it will cut its model lineup by as much as half and reduce production capacity to nine million vehicles a year, down from a previous target of ten million, but offered no meaningful updates on the job cuts or plant closures that have dominated speculation for weeks. In a video statement following a supervisory board meeting, Chief Executive Oliver Blume said that “the global situation has continued to deteriorate over the past 12 months [...] that is why we are acting now.”

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