this post was submitted on 07 Oct 2023
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Looking at latest reports two days ago from Volkswagen Cars about cost saving, this might be a wider cuts plan in the whole Volkswagen group. But that's just me speculating.
"Volkswagen finance chief issues savings targets" "In an internal letter, the managers of the Volkswagen brand are advised to reduce costs. Among other things, capacity savings are planned." "The savings efforts at the core brand of the Wolfsburg car company are gaining momentum - VW brand boss Thomas Schรคfer wants to save ten billion euros by 2026 in order to create return targets for the group's board of directors."
Audi already left Formula E, cancelled the Le Mans hypercar, announced the end of GT3 and Dakar racing. Formula 1 would be the sole motorsport left to promote their brand.
Audi doesnโt need to promote their brand, theyโre already the car of ever trust fund supported โbusiness owner, middle manager, and bank manager or stock broker
Layman's translation please
They need to make sure they still get bonuses
I used Google translate for the above. Here is DeepL as alternative:
"VW brand boss Thomas Schรคfer wants to save ten billion euros by 2026 in order to meet return targets set by the Group's Board of Management."
So they wrote down some money making numbers on paper for 2026, but to get there, they need to save 10 billion euros.