Europe's biggest automaker is set to undergo a significant overhaul as it struggles to stay afloat in a highly competitive market. In a move that signals a major shift in the industry, the company has announced plans to slash production capacity and discontinue several models in a bid to cut costs and boost profitability. The decision comes as the automaker faces increasing pressure from Chinese rivals, who have been gaining ground in the global market, as well as the impact of tariffs imposed by major trading partners. With profit margins squeezed by high production costs and declining demand, the company's leadership is taking drastic measures to ensure the firm's long-term viability.
Europe's largest automaker announces major capacity cuts and model reductions as high costs, Chinese rivals and tariffs squeeze profit margins.
