Yeah my daughter's VW was on its second engine and warned by the mechanic that if she drove it she could get stranded. She traded it in on a Corolla Hybrid.
Quality gets you only so far before competitors catch up. Anyway Herbert Diess warned his board but they decided they didn't like his message and fired him.
I agree with you, I switch from a VW, which i still own to Kia in 2012, which was designed by German Engineers from the Audi VW group and built by Koreans, a decade later and the chinese are now doing the same.
All production in Europe is expensive while gas is imported from the US, just the beginning, all manufacturing is leaving because of the price of energy.
But Russia has heaps of good cheap Gas , Oil , Uranium , Oh yeah thats right the US got rid of the legit Gov. in Ukraine to kick of the war then blew up there pipeline LOL ^ Then the WEF oh sorry the EU went green LOL What a set up . Keep up with your boosters , They are safe & effective Fauchy said so LOL
Strange things do happen in Germany. The one that provided cheap energy is called “Enemy”. The one that destroyed the flow of cheap energy is called “Friend”. The one that keeps helping her “Friend” to continue destroying her own country is called “Ursula Gertrud von der Leyen”.
BEFORE the war, labor cost was already high in Europe, compared to Asia. Now with the war and its consequences, it is like the final nail to EU's coffin.
We have had 8 years where interest rates were near zero, some even below that. So they borrowed huge amounts for buying back shares, increasing Directors pay, paying dividends above normal and building plants to over-supply inventory. . Now they have to pay it back, in a market where there are is an over-supply of cars for sale.
I liked how you used "idiots" on the video. You use so many facts 💯. And that is why makes the videos so good. And you give the message in a good easy way to understand
Who else wants to hear Herbert's response to this!?!?! LOL I've left a company that soon went under because I left but this is on an entirely different level! He's got to be laughing his ass off!
The first VW Golf was sold in 1974 for the equivalent of 8 average net monthly salaries. The current Golf already costs 14 average monthly salaries. The VW ID.3 - Volkswagen's cheapest electric car - was launched 4 years late and cost 24 monthly salaries. Nobody in their right mind buys a small car for which they have to save a full 2 years salary. VW became big by making affordable small cars. If they have forgotten how to do that, what reason does the company have to exist?
About 20 years ago I did a design review in Wolfsburg on Christmas Eve. We suggest paint and laser etching instead of two shot molding, I made the mistake to mention that BMW used paint and laser etch. Mr Muller turned and spat in the garbage can and said VW makes good cars, not like BMM. They had no interest in even looking at a lower cost process. Perhaps some of the problems stem from the stubborn aged engineering teams.
Their last chance was making changes as per Herbert Diess. But of course they fired him instead. EVs are causing them to fail. It's not only Teslas but all the Chinese manufacturers who have been encouraged to go NEV as fast as possible. 80% of all new vehicles will be BEVs by end of 2030. This will be purely on the economics alone. Let alone the benefit to the environment. That's 5 years away! They can't pay back $218b in 5 years.
Fun fact: in the last few years, Germany in particular and EU in general discussed about "de-growth" as a mechanism to reduce CO2 and pollution. Not sure how far such trends get traction. 😆
But we don't talk about this. It's a taboo topic. Imagine normal Europeans found out how devil the US is, this would put EU politicians in very difficult positions because they rely on the US for defense.
When Anna Baerbrock opens her mouth 😂😂 Porsche cars are way overpriced...well all of them are going berserk with their prices. China is showing the real world prices. 😂
Investing billions of dollars in other companies when you're billions in debt is just mismanagement. It seems to me that they were afraid to miss the electric boat and started throwing money around in desperation. Now it all comes falling down.
The Chinese govt gathered all the automakers as far back as 2004 and told them that their policies will favour the development of ev,s. Only Tesla and the Chinese automakers took note. They can't claim that they did not have enough time to make the change.
@@rais1953and in China even the VW’s are a lot cheaper in order to try and compete. The ID3 is £12.000 against £32,000 on the UK. Given that I think we should all look forward to the Chinese manufacturers arriving on masse.
Expensive energy causing high production cost. Expensive energy causes other necessities to cost more, therefore a house household disposable income affected and car market affected. World economy is slow. Their biggest market is going EV. They are in trouble.
I've had a few VWs, 50s and 60s beetles and kombis - they were great! They've not really moved a lot in innovation since then though so I guess this was always going to happen. Same with most car makers - they sat around serving us the same stuff for decades and have now been well and truly overtaken.
In the 80’s they moved into China and started printing money so they didn’t bother with innovation. They sold them the Santana for almost 40 years! Obviously given that the Chinese took measures into their own hands and created some car companies. Now VW, and sadly the wider German economy, will pay the price for that arrogance.
The German state will always save its beloved child, no matter what it costs and no matter whether it has put itself in this situation. The German citizen will once again have to bear the costs. Let's hope that Volkswagen finally focuses on electric cars.
You wrote it right, we need to give Volkswagen 500 billion euros so that they make cars that cost 100 thousand euros. At my job they promise to raise my salary 5 times next year and then I will receive 100 thousand euros a year and will be able to buy a car from Volkswagen.
At the beginning of the war when sanctions kicked in, German politicians thought of the possibility of getting rid of Russian energy in 5-10 years and started using Green energy. This was supposed to be "one stone (green transformation) kills two birds (Russian reliance + pollution/CO2). I laughed hard because the whole industry could just move to Green Tech, e.g. steel industry, and the whole world would wait patiently for Europe to do so? 😏
Good thing I didn't want an ID3. Nope, I wanted an E208 from day 1. Rawrr! Europe's top EV; it'll *still be there* for me to import to USA... Right? Oui Oui?
In Q3 2024, Volkswagen reported a profit after tax of approximately EUR 4.35 billion, which reflects a mixed quarter for the automotive giant. Volkswagen's Q3 2024 profit dropped over 40% compared to the same quarter in 2023.
Direct and immediate result of slamming enormous tariffs on all Chinese cars to stop China selling cars in Europe, Canada, and the US. A large percentage of Chinese consumers simply stopped buying Euro-American cars in disgust. That's it. Action. Reaction.
I saw inflation and high gas prices coming. Paid cash for the longest lasting car with intent to drive it for 10-15 years as a cost saving measure. VW was crossed off the list right away, they don't last. My 2007 Toyota is still banging out 15k miles a year as secondary vehicle and has literally never required service beyond regular maintenance. It's 17 years on. As inflation ramps, automakers that don't tick all boxes in terms of price, quality and style are going to suffer
in germany the mainstream thinks it is electric cars that produced the trouble. i dont think that only cimbustion cars could function in 2025 and later in this globalized world-
In Australia, the channel host’s home country, it will be all but imposed to buy a new petrol car in 2030. Only an utter idiot wants the inherent perpetual high petrol and engine maintenance bills.
High prices, poor ownership experiences, too, many models and brands and a poor effort on EVs... no wonder they are in trouble. Time to get back to basics on product and reliability. Looks like they will need to use XPENG tech to be EV competitive.
Perhaps Volkswagen should get Elon Musk to buy the company and bring it up to date. I don’t think that every part of the cars should be hand made by robots, but a92.5% robotised factory would certainly bring costs down.
I was just thinking whilst watching Sam’s video that there seem to be a lot of people in those factories. I imagine Tesla’s one down the road looks a lot different.
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
Good job. I feel sorry for the workers but not the people behind Dieselgate. Will be interesting to see how many other VW factories shut down, will Toyota be next?
I had a Golf 5 back in the day. I went to an authorized dealer/service to have my worn off faux leather shift knob replaced. They told me that they would need to replace THE ENTIRE shift assembly all the way to the actual gears. I said "oh F that, you and the entire VW group if that's your business plan". My whole experience with VW has been around the same lines from beginning to end. Mysterious computer glitches that can only be solved by completely replacing the processor chip that would cost thousands of Euros (a non-authorized mechanic solved it within minutes btw), scandals with blatant lies on emissions, etc. etc. In summary, corporate greed plain and simple. Moved to Renault right after. Best decision ever.
Does this not have huge parallels with British Leyland in the 70s? Everyone then thought that BMC was too big to fail but fundamentally the tide was just against them. Workers wanted more money, the company wanted to pay them less….. sounds familiar.
7:12 *Earnings after tax: -64%!!* Volkswagen is finished. Nobody in their right mind would want to buy a new VW petrol car in 2026. All VW will be by 2029 is a manufacturer of parts for existing petrol and diesel cars. Nothing more. 🇩🇪 🇪🇺
VW was trying to transition to EVs, then they found sales were lacking, so now they've had to go back to ICE and hybrids. It's a fickle market at the moment. I'm sure the VW group will come through it.
betcha all the CEOs get their bonuses , they should be going to jail , misleading the share holders , we just got rid of one here in australia who was in charge of QANTAS , Alan Joyce , a criminal .
The ID3 is quite a good looking car. But some of us don’t want a small car but want smaller campervans like the Caddy Hembil and the NV200 electric van.
The formula is simple. Start producing affordable, fuel efficient, reliable cars. You know, the kind Honda and Toyota used to make. Trust me, sales will increase dramatically.
make ICE as exclusive product, expensive & difficult to own, same approach being used rolex that makes it survive until today, casio digital watch seemed as threat to traditional watch then.
After the reprehensible "Dieselgate, VW deserves to go under. Locally, VW treats customers with disdain. Aside from Porsche, won't be missed. VW Group's younger German workers can get jobs in the German military, which is in dire need of beefing up.
Scout looks more like a rebadged Rivian. So if VW has already invested $5B+ in Rivian - Why do they have to build rebadged automobile separately again ? Seems like VW is obsessed with multiple brands / badged autos that look the same.
VM no doubt is a great company. I think they need to simply and reduce the scale, seeking government subsidies to enhacne production and R&D. Then come back to the table with a strong comeback. But obviously, under the condition the Ukraine/Russian war ends with energy price back to normal... otherwise god can't fix it.
Wow have you seen the new Leapmotors mini T03 we are getting in the UK later this year ? under £16k with a 245 mile range, probably be about 200 miles in the real world but what a winner, cheaper than the MG's. Looks a bit like the old Fiat 500e but half the price, then again its coming via Stellantis who own Fiat so maybe that was the base model they worked with. The race to the bottom officially begins in November !
Just proves how so called smart people in vw are so slow its the long haul like the turtle 🐢 against the 🐰 I'm not educated at all compared to experts in vw I saw this 5 years ago wow
Their only innovation in the last several years were constant price increases, making today's average car price where Porsche was couple of years back. No one will miss VW with it's high nose management.
Thank you, you are the single person in the comments that making less profit is not the end of the world.... VW is just fine, all car manufacturers have their ups and downs, all it takes is a few models that don't sell or are insane popular.
For decades, Legacy Auto has gone along in a ho-hum sort of way, a few changes here , a few changes there. With board members and execs enjoying a port and cigars life-style. Keep everything as the status quo - don't make waves - it was difficult to make important changes.Add to that, out-dated work methods, a fractious Union, and an irascible Porsche board - in other words, an industry ripe for disruption...
Those EU countries that voted "yes" to the EV car tariffs either produced no cars or produced far fewer cars. This convinced everyone that this is to deindustrialize Germany. Not helping workers.
I think they will externalisieren all dept to the German society and use that artificial „crisis“ to through out as many as possible old workers and then renew production in cheaper countries.
Fully electric vehicles, like all the other flotsam caused by the plant food psychosis, ugly wind and solar, thousands of kilometers of unnecessary transmission lines to disparate locations, insane government subsidies financed with borrowed money, skyrocketing energy prices, businesses closing, will all end up in the what were thinking column!
