Click here to get a free charger and installation when pre-ordering the G6 xpeng.com.au/?qr=726XPO The best solar company in Australia just installed my new solar system. Check them out here: www.resinc.com.au/electricviking
After Dieselgate, I have NO sympathy for VW. I also have no sympathy for the union which thinks striking will improve the future of the company. There’s no point in making more cars than you can sell.
Diesel gate was just bs. Ti fast track the removal of diesel engines. Or it'd be too hard as diesel engines are more efficient and cleaner than petrol engines and diesel is a waste oil so cleans the environment as well. Where as batteries don't clean the environment or remove any waste products
Well the union knows that VW doesn't have a future operating the same way it does today, so why would they take a pay cut now, knowing that their jobs will end in two or three years anyway and management aren't going to cut their salaries or cut dividends to shareholders?
@@skasteve6528 I agree that the managers and especially the CEO should take a major salary cut, and I agree that no dividends (or a very small amount) should be paid. But if VW can close some of their plants, a reduced company may be able to survive, and some jobs will remain. If they continue on the current path, there may be NO jobs in a few years.
VW and Tesla were supposed to be the two EV winners. And then VW released substandard, expensive cars with faulty software. Their previous CEO knew they had to do things differently and so was fired.
Their ceo released substandard expensive cars with bad software and he was fired for this. Now the management has to clean the mess Winterkorn and Diess created
@@zoransarin5411 it happened under his reign. He promised changes and failed to deliver. Saying lofty words doesn't help if you fail to deliver. Everyone understands in German car industry that evs are future. VW has invested tens of billions in ev research and production.
@@larryc1616 Nokia and Kodak are both doing fine., So killed probably isn't the word you should have used. I can't speak for Kodak, but at Nokia, some management mistakes were made (Many could only be seen to be mistakes with hindsight). Losses resulted. Parts of the business were sold. Management was changed and a change of strategy was enacted. It's still a profitable company. VW's situation is different. They had a CEO who correctly identified the changes coming in the auto industry and highlighted the sort of actions that needed to take place. So they fired him and buried their heads in the sand.
The incompetence of senior management and the members of the Board of Directors is staggering. And the news flash is that many other legacy carmakers are just around the corner who are facing the same challenges. Idiots, all of them. I have no sympathy for them except for many of the workers who are going to lose their jobs very soon.
The former CEO said then The company had to restructure, become more efficient. The Union representatives on the VW board had him fired. Both sides are to blame for this mess! 🇨🇦
But it took rivian to fix your problems. I'm gen x and feel your pain with dealing with gen z but banning gas cars 5 years ago would have meant failing 5 years ago, when there was less infrastructure. Why rushing to make a company fail? Why make them so overly complicated? What are you planning on doing with Lamborghini?
The workers can just jump ship to another company. I wouldn't go so far as to say the CEOs are idiots ... they just are hemmed in by short-term thinking required by the stock market overlords. Notice both Tesla and the Chinese companies are successful due to long-term thinking.
The fact CEO's make no real sacrifice in their own personal bonus and incomes but expect it of people far less able to absorb any reduction in wages needs to be talked about far far more
I believe from the articles I have seen this is across the board with 10 % including CEO and no bonuses. Still the union says no plant closures... Do the understand if they do not do this no one will have a job? Its like the just told everyone the are on life support and workers don't get it. I'm not saying management and leadership didn't screw up but without cuts they are doomed.. probably won't help anyway, it's too little too late. HD tried to warn them before they fired him but Porsche and the union control too much of the company. *RIP VWg sold them their old platform and it will not compete in the Chinese market even with that.
Talk, talk talk that’s all you people ever want to do! You never want to fix the underlying problem of anything in German Society. Anytime you have the inmates (workers) running the asylum you are destined for major problems. VW has to downsize, immediately. They have too many workers and too many auto plants for their shrinking markets.
10% pay cut 2 years ago, 10% pay cut last year, 10% pay cut this year, 10% pay cut next year... Pretty soon you're working and making what you're making now.
@@monkeysuncle2816 If layoffs are inevitable and redundancy payments are based on your salary I can understand why workers want to maintain their salary to the end.
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family
Good advice to anyone today, Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments. Everyone should have BTC in their portfolio.
Investing in many source of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Good assets and digital currencies are still good investment at this time.
This is superb! Information, as a noob it gets quite difficult to handle all of this, and staying informed is a major cause, how do you go about this are you a pro investor?
As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
I bought one and it had nothing but problems then swapped it for a Chinese car and it's way more reliable and costs me far less. I really cannot see these German automakers surviving at all. They are pumping out ovepriced trash.
On world level, 76.67 million cars were sold 2023, of which only 13.8 million were electric (INCLUDING HYBRIDS). EU=11.14M cars / 2.45M electric/hybrid cars (In 2023, BYD sold 15,644 electric vehicles in the region making it 0.14% market share in EU) China=21.32M cars / 8.1M electric/hybrid cars USA= 14.63M cars / 1.39M electric/hybrid cars While this channel is hyping EV's as the only viable cars to sell, it really does not show just yet, other than maybe in China (wonder why, eh?) where they have a decent share of the market. China is a wierd market right now, and BYD is huge there, good on them and I hope their effective production can rub of on VW and make them adapt faster towards more and better cars/profits.
Another fun fact, In EU new car sales of VW group were up +2.9% while Tesla was down -11.4%. (jan-oct 2024) VW is mostly struggling with expensive plants, showed by its decline in profits and its need to close down these in expensive regions ie. cut costs. And as "The Electric Viking" clearly own stocks in various companies, the channel is hardly fair or unbiased making it hard to listen at times.
Rivian is fixing the problems VW has had with computer modules and software systems integration. Rivian took an Audi E-tron and converted it over to Rivian modules and software in 3 months. VW management and engineers were floored. This is how the deal with Rivian came to be. Rivian engineers did in 3 months what VW engineers could not do at all in years.
@@WillieFungo It’s just business, and I’m cool with it. VW still makes durable cars, even if they’re behind on innovation. Rivian, on the other hand, really needs this-they’ve been in financial trouble, and this partnership could be the boost they need to steady things. Smart move for both sides!
@@HullioGQ No, Rivian is giving away their economic moat. It would be better to wait out VW's collapse and try and take their market share. Software is the only advantage next-gen automakers have over the incumbents.
@@WillieFungo VW’s $44B market cap still overshadows Rivian’s $12B, but VW isn’t without challenges. Even with plant closures in China and declining profits there, VW's established global presence and steady revenue streams give them a far better chance of weathering financial storms than Rivian, which continues burning cash. A VW buyout of Rivian within the next 12-18 months still seems like a plausible move to boost their EV ambitions.
I'm sorry, but as an American automotive repair tech, that dispise German automotive engineering, I can't help but laugh my bottom off🤣 They did this to themselves. Overpriced, over engineered, and now the ev push, absolutely caused this on themselves
@@mrbig7718 No economist is willing to predict a turning point (as a rule). But, barring something very extraordinary, eighteen months from now at least one US automaker will be either in Chapter 11 or being bailed out. Also, the math says that even Americans will switch to EVs, despite the efforts of the fossil fuel industry.
There’s no reason for workers to take pay cuts until the leadership takes a roughly 80% pay cut, freeze on bonuses for a few years, cut spending like private jets and luxury “meetings”.
The system should be changed to give the CEO a fixed monthly salary. Only when their term in office ends then the board should assess how well the companies financial performance has fared under the CEO in question before deciding if a bonus is deserved or not. Those who fail should not be rewarded with bonuses and share options. Currently shareholders votes are non binding and that needs to be changed.
Paycuts from management or banning „luxiry“ meetings wouldn’t affect the financial results or profitability outlook of the company. Paycuts for 100,000 workers would. These symbolic demands bring absolutely nothing to remedy the problems they have. Nobody from the unions stopped to think for a second how and why they were getting away with salaries way way above the average in Germany. But now management has to „suffer“ to make them feel better?
I have a 2007 Fabia. I wouldn't touch any VW brand after 2008. Too complicated and even more so to fail. It's like watching the UK in the 80s, with their car companies Crash n burn due to Germany and Japan imports
@@Richard-pe1cd the 90’s vw’s were the last of the decent ones as far as reliability goes… they were still expensive for what they were but I remember they were mostly reliable.
Looking at the financial numbers and the sales numbers, even if the workers took a 10% pay cut and shut down three plants, this company would still be in trouble. Investments in plant and equipments and future model development are sunk investment costs with large borrowing debts that can only be recovered with sufficient volumes over time. They have massive debts and volumes are declining, the financial numbers say it all. I do believe the first steps will be to sell off their Luxury brands, close more plants, and increase ventures with Chinese companies .
Dear VW employees, take the pay cut or find a job elsewhere. And in a few months there will be mass layoffs anyway and most will loose their jobs at VW, worldwide.
And then it goes to Saudi or Chinese companies then we lose factories, history and economy again to the point we don’t have ownership or jobs then towns county’s and the country gets closer to poverty
@@bigblivin9722So the only option is to close the factory... problem with Germany's high cost specially energy, who's gonna buy it? Arabs and Chinese are not idiots.
The writing has been on the wall for 25 years where all of the car industry needed to go. There is nothing new that the government did or released that was not known for that whole time. The government has simply ratched up the Euro standards every few years to set the path from point A (100% ICE) to point B (100% emissions free). This is not the fault of government, after all the mandate for climate action comes from the people electing them. This is 100% the fault of the automakers, who have fought each step of the way and undertaken the absolute minimum required every step of the way. VW was different when lead by Deiss. He saw the future and tried to steer VW in the same direction that world governments were going. He constantly benchmarked against the EV leader, Tesla. But when he was removed and replaced by a petrol head, and the company pivotted back to ICE and hybrids, therin lies their current problem. That and not seeing the rise and rise of China, where VW gets 50% of its profits.
This isn't the fault of the government. The management knew this was coming and did very little about it. You can't blame the government for the bad management at the top of the company.
@@zoransarin5411 The real culprit here is the Chinese Government, giving subsidies to Chinese Manufacturers and rebates to Chineses Citizens to buy Chinese cars EV's, so that foreign Companies like VW can no longer be competitive in the Chinese market. VW is now faced with the prospect of losing 50% of its profits and has to rely on other markets that have much higher labor and manufacturing costs, and thus lower profits. The increased cost has been caused, partly, by the German and other Euro Governments obsession with net zero, and the increase in power costs that, that direction has taken things. With high wages and high power costs, and low, if any, profits, VW has no choice but to get out of manufacturing in Germany.
@@zoransarin5411 The Government forced the Change to EVs AND they caused the CO2 taxes. There is no Reason for Germany to do anything about climate change because Germany will benefit from it.
The country and the company have done so many things wrong that it will be the subject of books to come. Best thing management could do is declare bankruptcy, reorganize with a tenth of the workforce, sell the premium units off, find a Chinese purchaser. It's not possible to sand down a rotten log enough to make furniture.
In the past, a Chinese company might have bought a brand at a knock down price, to enable them to sell in a western country. That ship has sailed long ago.
As a VW owner since 98 lmao I tend do disagree. I’ve had hardly any major issues over the years. Always drove GTIs and Rs so I think thry look better than most cars, hold up better too
We should probably stop using the term "labour cost" and just call it "production cost". The production cost in China is lower due to a combination of factors: streamlined regulations, streamlined supply chain, government policies aligned with industry, lower cost of living meaning no need for higher salaries.
I work for a car manufacturer in the UK. In 2017 said manufacturer was opening a plant in China so we had a group of Chinese workers come over to see how we operated over in the UK. I asked one of the lads who came over from China how much they were getting paid. Shockingly he said £400 a month. I pick up double that in a week after tax. No wonder companies were scrambling to open plants in China. 😂
@@dave.1981China's economy is structured in a way that keeps the rmb low and the cost of living very low. And because critical production is publicly owned its resiliant to external market fluctuations and immune to profit motivated interests. Smart.
A major factor is low power costs, because China didn't just bow down to climate activists and shut down their cheap power producing plants. It's all very well to want a clean and C02 free environment, but tripling and in some countries, quadrupling power prices over a decade is just a recipe for economic suicide, and Germany is on suicide watch, factor in already high wages and the Chinese Government making it very difficult for foreign car Co's to compete with the local car Co's with subsidies and rebates, and you don't need an economics degree to see why VW is in the poo.
@SaintKimbo China has a hugely diverse energy grid focused on renewables first and phasing out fossil fuels in favour of nuclear/solar/wind, augmented by gas. I think your idea of the Chinese energy situation is way out of date.
Hey, sorry for saying this. The problem is not VW as a brand. The issue is how the German culture is. Running a company today means being fast, agile and adding value to the customers. Again sorry, this is not within the German DNA at all today. I have been working and exposed to the German DNA for 20+ years now as a foreigner, and his is not simply the culture. It is rather stiff, extremely formal, slow and no value add thinking at all. That is the problem according to me. Please change the mindset German people, otherwise you are screwed. Cheers and love you!
This trend is not unique to Volkswagen or Germany, as many developed countries face similar challenges. Unfortunately, the United States, in particular, shares a similar story in labor and auto manufacturing.
Changing a company this much is very difficult and maybe it would have been easier to start again with a sub brand which gradually takes over the parent. I think this is what Deiss was trying to do with ID but he didn’t get the support
I understand where you are coming from. In this case, it is the German auto industry as a whole rather than a specific brand that is going to have problems. The traits you've commented on aren't specific to Germanic people (I'm including the other Germanic countries here, including England), The Japanese have similar characteristics (reserved, formal, slow to jump onto the latest fad), which can be a good thing as well as a bad thing. Interestingly, the Chinese and Koreans have similar characteristics. Perhaps it is the people who aren't like this, who are the outliers.
@@Suburp212… “laughing his head off”?? From watching Diess for over a decade, I would say he is crying for the loss of the historic brand, and all the worker’s jobs, and al the investor’s money.
Shipbuilding has all but disappeared from Europe. The Automotive sector will likely go the same way for very similar reason - costs and labour relations.
@@daveryder4430 it all starts with the government… they are hostile to foreign business. Much like India. How are you going to have an economy without manufacturing and business?
The Executives annual salaries may not come close... They should be required to dip I to their savings, which should be considerable, given their high salaries. The decision to allow the Company to fall so far behind (and resist) the transition to EVs is not down to the Workers.
The VW CEO and C-suite officers made a lot of financial bets, seems to have lost, and they want the union to pay for it. Obviously there are other issues with the problems, but the C-suite executives should take similar or larger salary hits and layoffs since the crisis seems to have originated there. Obviously cuts to C--suits bonus/salaries will not be enough to solve the problem, but they should lead by sharing the pain. In 2023, Oliver Blume is estimated to have made around €8.7 million, and the Board of Directors receive a salary of €15 million each. Maybe they should be laid off. I think the "bloating" starts at the top.
You are so right about VW. My wife used to work for these guys at a high level. They let go the people with knowledge and experience to keep themselves from looking bad and making positive change. . It’s catching up with them now. Too bad. Such a great brand that they let degrade.
Don’t blame the workers. Sure - they want to protect their position and their demand for a pay rise seems baffling, but it reflects the cost of living in Germany. The real issue here is that VW execs have failed to adapt to the changing market. They backed ‘clean diesel’ to the death and waited too long to develop good EVs. Their real profitability has been obscured for years by selling so-called premium ICE cars in China, but now the Chinese don’t want them. They are producing better and more affordable cars themselves, highlighting that VW’s product is both antiquated and overpriced.
Please stop talking nonsense. VW and other foreign car makers are being FORCED out of the Chinese market by the Chinese Government giving handouts to the Chinese manufacturers and subsidies to Chinese Consumers who buy Chinese EV's, no one can compete with that, no matter how good your cars are. This is just going to, and already is, start a tariff war between China and the rest of the world. Do you really think that Germany and other car producing countries are just going to let China sell their Government subsidized cars at prices that are going to destroy their car and associated industries, after the Chinese Government made it UNPROFITABLE for their own manufacturers to produce in China?
In Germany, Tesla somehow seems to be doing just fine. I saw a VW video a couple of years ago showing their production line. It was like watching someone wading through glue! so frustrating, come on guys, just get a move on. How many people does it take to fit a wiring harness? 4 by the looks of it, one doing most of the work and the other 3 supervising etc. The harness itself was a monster compared to the Tesla one by the way. No wonder Tesla can make a car in one third the time VW can.
they can´t be bought, because 20% of vw is owned by the state of lower saxsony, who would never sell, because 2 million jobs bound to vw are located there
The German government and EU want this to happend apperantly.. Forcing EV's on them with heavy fines.. It's sickening really how they will sink the German auto industry..
We sold our Volkswagen last week. Bought another makers. Partly because we don’t believe they will keep their value plus hard to get service at a reasonable price.
Thanks - love that, “If you’re a VW fan, unsubscribe and stick your head in the sand!” I have a friend like that- VW can do no wrong as far as he’s concerned. However that’s nothing new, he said the same just when we all found out about dieselgate. (Bashing head against wall! 🤪)
That's what VW gets for sitting on their laurels . They have done that since 1999. Very small improvements here and there while everyone else was leaving them behind in luxury, features, LED lighting, not giving Americans the same features on the European versions of VW models. With all the money they had, VW could have made a really bold move to be real trail-blazers in the EV field, but a tiny American start up, Tesla, just ate VW's breakfast, lunch and dinner.
Respectfully & Seriously led lights are toxic to human eyes (think brain) Ask Doctor Jack Kruse. Sue any employer that installs led lighting at work, class action.
Wow, great conclusion but frankly speaking complete bullshit. Tesla in Berlin is doing great. Why, why. Its lacking innovation, complacency and more moaning 😂😂😂😂😂😂
To show a spirit of shared sacrifice, cut all compensation down to the median worker's wages (the executive suite also). But those greedy narcisists at the top never will. Last years 8 figure salary must be maintained for them.
Well the union did propse pay cuts for their members (totaling about 1.5 billion euros ) back in November, provided VW could guarantee that the future of all Volkswagen’s German factories would be safe, along with job security guarantees. They also proposed that senior management forfeit their bonuses. VW couldn't agree to this as they know that plant closures are inevitable
They should be taking a lot more than they are asking the workers. 10% of millions is meaningless and the ceo won't notice the difference. Whereas the workers will notice their 10 % cut.
@@JohnSmith-ux3tt And? The total compensation of all the workers combined is like 100x more than the CEO's salary. Plus it's harder to find a good CEO who has experience with the company's operations.
my favourite sports team is still sponsored by VW, I wrote to them almost 2 years ago and said VW are screwed run, they have since extended the VW sponsorship deal, very few of us understand what is happening and we have understood for a while now, it's so bloody obvious but apparently not to the suits, tip of the hat to you Viking, I've literally been laughed at with my legacy auto collapse predictions and I bet not one of those laughing at me for a couple years now will give me any credit whatsoever. I've been all in on Tesla for 2 years already, and not because of cars 💥
Not only Volkswagen , but also other big companies will go bankrupt in Germany. Instead of supporting wars in the world, they would have done a better thing if they had helped their own companies and provided financial support to their citizens.
How much socialism can you handle? I hear former East Germans missing "the good old days" where the State led everyone by the nose everywhere, and you had little choice.
what would the Chinese offer for /pay for , say, brands Skoda , SEAT, Lamborghini? 10 Bn in total or 5.5% of the debt burden ? correct t me if I am far off
Chinese auto makers don't need those brand names. They are already exporting thousands of ev,s to Europe without using those brand names. Better to put those profits into developing better electric motors and batteries for future models.
As you said VW makes a lose on every EV they sell. So, I blame investments in EVs. Cost too much and no reasonable person wants one. Hybrids are acceptable that's why it's sales are growing.
lmao...the demise of the existing automakers, as we are now seeing with VW and Nissan, and many more to follow, is because they are NOT sufficiently pursuing EVs. Not the other way around. If EVs, and the investment in EVs is the problem that you think it is, explain why the biggest automaker in the world by market capitalisation is Tesla, a 100% EV maker. Shares in Tesla are currently going through the roof. They have no debt like VW and Yoyota ($339 billion and $398 billion respectively), are sitting on a pile of cash, and selling all their EVs at profit.
you are kidding of course! ask Tesla, a lot of 'reasonable people' buy them it seems. The only reason hybrids are acceptable now is because of the latest trendy knee-jerk perceived lack of range and charging options. In 5 years, full evs will be the norm, the reason - all the tech including batteries will be way ahead of what ice vehicles will offer. You cannot charge your diesel from home no matter how big it is, but it is possible to charge your ev from home if you have the room. Also, ev companies are now offering up to 10 year warranties, how many ice cars can match that?
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market business. or get you a skilled practitioner.
Exactly, most of the investors pays more attention to the profit aspect forgetting that the market involves ups and down. securing your financial position requires lots of patience and proper education on the market so as to know the right profitable stock to buy and invest in. I made over $260k in profits, from just the Q4 of 2021. Investing in the stock market is most profitable when you understand how the market actually works.
Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.
The senior management of VW is to blame. Management underestimated the disruptive effect of government sponsored EV revolution. The management responsoble for developing the EV vehicle should be fired. Now if i was CEO i would shut all plants until the union dispute is settled.
Sam, I looked this up. Median wage for a union member at VW in Germany. 62 Euros per hour. Tesla pays its production workers in Germany about $20 per hour, but gives 30 days paid vacation. Median wage for production line worker at BYD in China is $4.20 to $9.00 with most at the lower end. Tesla pays about $9.00/hr in China with some overtime. Free meals and transportation. VW data in China are opaque but it's less than $20 an hour. There is no way VW Germany can compete pay 62 Euros while BYD is paying $4 or $6 or whatever in China and making better cars. The IG Metall union workers are going to bankrupt VW. They can't compete with Tesla in Germany either. I think VW is doomed.
I always loved VW but after diesel gate? Then they fired Dietz (spelling?), a CEO who knew what was coming and what had to be done. Add to this, I wouldn't be surprised if they were behind much of the negative propaganda and vandalism toward the Berlin giga factory.
I’ve seen this before a big companies where they drop like this. And then all of a sudden they buy more stocks and they go up the hell with them. Kinda like a game for the rest of the world.
Largesse in Germany factories is rife. Australia lost their manufacturing for same reason, Britain before that. Lack of investment, lazy middle management, uninterested shop floor, terrible man hours per vehicle. Overlong holidays, sickness benefits...the list goes on.
I had a few friends who worked at Holden in Brisbane, same crap, strikes for any pathetic thing, just went for anything they could get at the time, but the cars they put out were rubbish, I sold my Belmont, too many things falling off plus it used to 'whistle' as it went, if I wanted a radio, it had to buy a 'special' . My mates Datsun 1600 had everything included, and it was stock standard!
A rewrite of history here mate. Holden closed because in the early 2000s GM made a strategic decision to pull out of all RHD markets - they just bullshitted about it in Australia to keep getting those government subsidies. They also shut up shop in the UK, SA, India and Thailand.
The management DID see it coming. Carl Diess (the CEO) kept loudly saying "we need a total restructure and focus solely on EVs or the Chinese are gonna cream us in world markets". For which the board sacked him in 2022. A lot of the commenters here just focus on the US market but it is the other 85% of world sales, where the Chinese are indeed creaming them, that actually matters to VW. They could pull out of the US tomorrow and be OK but if they lose Asian markets, as they are, they're toast.
Diess was fired in disgust for doing the right thing. All involved in that decision must now be fired immediately. In HR, in the labor union, in the senior leadership.
@@Wendy-nm9zw Are you people really this stupid? It is not hard to google EV sales for the last few years 2020 - 2.98 million sold 2021 - 6.6 million sold 2022 - 10.4 million sold 2023 - 13.9 million sold 2024 - 16.7 million sold (estimated based on first 11 months sales) Does that look at all like EV sales are going down, or slowing, or not selling? Maybe google phase out of fossil fuel vehicles. Find a list of the dates at which many many countries will ban the sale of fossil fuel cars. This isn't rocket science.
@@zoransarin5411 looks like you need to get out into the real World.... Anyone can put numbers out there. The trouble is you're looking at the wrong information
I am in the US. I witnessed flames from 3 cars this year myself, none were an EV and none appeared in news the next day. But if it was an EV…I bet they make the news.
I work in German semiconductor company and my friend works in Bosch and was working together with VW on autonomus fearure. He told me to buy VW stock back in 2021. I bought the stock. 2 months ago i was at 50% loss. I had enough and didnt see any future. So i sold my VW and invested all the money in Tesla. It almost doubled within 2 months. Best decision of this year so far.
As VWAG owner and fan I appreciate this video. It is well researched, direct and honest commentary and unbiased (seemingly). My two cents on the situation is everyone needs to sacrifice and compromise from the board members to the employees. And my observation from the reaction/actions taken by both is that it’s not about the company it’s about looking after themselves, which I can understand from both perspectives but is only going to hurt the country if there’s no resolution.
EV sales for the past few years are as follows: 2020 - 2.98 million sold 2021 - 6.6 million sold 2022 - 10.4 million sold 2023 - 13.9 million sold 2024 - 16.7 million sold (estimated based on first 11 months sales) I showed my donkey these numbers and my donkey said "yep, EV sales are definitiely growing and not seeing less and less interest". I would suggest you get a donkey to help you with more intelligent comments
compare the share price of Tesla to VW. Yep, really smart to stick with ICE when the world is going EV. Buy more shares of VW Ken and watch your fortune grow
That is a sure fire fix. Continue making cars that you specifically want, even though demand is falling. Stop making cars that there is a rising demand for. Oh and whilst your at it, close some of your most productive plants. I'm sure your future tips will be more eagerly awaited than Warren Buffet's.
Means going bust within 2025. Excellent suggestion as the debt is higher as all their assets. You must belong to the monkey family as you also did forget to mention their shady diesel gate story of misleading customers.
VAG fan. But please keep the news coming. I just priced a the new IDBuzz and seriously WTF is VW thinking. The range is 190miles and the price is absurd. I will stick with gas engines for now. That for VW might actually be the unforeseen win. The new Jetta looks like a gas miser and well priced.
Sell! Retail investors can get out quicker than government institutional players. Run! Think Nokia, Kodak, Video rental stores. Milk co-operatives. This is the end because of technology. Not because of bad executive management or bad workers.
The government will bail them out, as always. That's the thing with these big companies that are "too big to fail." It's the same with banks. CEOs don't even care as much about making sound business decisions anymore, because why bother if they'll just get bailed out anyway?
The whole board should resign in shame if they had any honour. It's their stupid decisions that have got the company where it is. Bring back the Golf, strip all the unnecessary electronics off, match the price with the Dacia Sandero, currently the top selling car in Europe & they might just have a future.
People in China like VW becuse they have been in China for a long time. I remember a time when every taxi in Shanghai was a VW Jetta. Many people, have fond memories of owning a trusty old VW but their EVs are just not very good. Even if they have the Xpeng platform now, why buy a VW not an Xpeng?
The Electric Viking is spot on💯. This is the go to channel for automotive investors. Hoping your wife is ok my friend. Made $$$ listing to this channel. Shorted this stock based on your research. Made $$$$ on your reporting. Bless your boys mate.
So all workers take a 10% pay cut. The average worker can no longer pay their health insurance or house payments. The CEO loses 3 of his 30 millions. So he does not even notice.
I agree with you on all this. What is your take on how to get out of the situation for VW Group? Would it be good to just dump the prices of current cars? What would that do now and on the longer term? I would say: cancel old platforms, use gigacasting, xpeng platforms or PPE, add more standard equipment, lower prices and provide a better guarantee. My take on this is rhat it must be better to sell cars with a loss than sell no cars at all.
Click here to get a free charger and installation when pre-ordering the G6
xpeng.com.au/?qr=726XPO
The best solar company in Australia just installed my new solar system.
Check them out here:
www.resinc.com.au/electricviking
You are SAVAGE 😂
After Dieselgate, I have NO sympathy for VW. I also have no sympathy for the union which thinks striking will improve the future of the company. There’s no point in making more cars than you can sell.
easier for VW to file bankruptcy protection than deal with those unions
Diesel gate was just bs.
Ti fast track the removal of diesel engines.
Or it'd be too hard as diesel engines are more efficient and cleaner than petrol engines and diesel is a waste oil so cleans the environment as well.
Where as batteries don't clean the environment or remove any waste products
Well the union knows that VW doesn't have a future operating the same way it does today, so why would they take a pay cut now, knowing that their jobs will end in two or three years anyway and management aren't going to cut their salaries or cut dividends to shareholders?
@@skasteve6528 I agree that the managers and especially the CEO should take a major salary cut, and I agree that no dividends (or a very small amount) should be paid. But if VW can close some of their plants, a reduced company may be able to survive, and some jobs will remain. If they continue on the current path, there may be NO jobs in a few years.
Amen! Succinct and to the point. 😊.
I haven't even thought about a VW after they got caught lying about emissions.
The first time that they got caught? Or when they got caught cheating on the fix again?
@@svenl.3314 😂
Toyota did similarly.
@@svenl.3314 🤣
That’s most of the world I hope
VW and Tesla were supposed to be the two EV winners. And then VW released substandard, expensive cars with faulty software. Their previous CEO knew they had to do things differently and so was fired.
yeah VW`s owners thought they knew best and shot the messenger (Deiss) LOL serves them right. Hope the Banks foreclose on them soon.
Their ceo released substandard expensive cars with bad software and he was fired for this. Now the management has to clean the mess Winterkorn and Diess created
@@user-nh1yb9mk7y Cariad was not the fault of Deiss, but it was used as the reason to remove him.
who said VW would be a EV winner ?
@@zoransarin5411 it happened under his reign. He promised changes and failed to deliver. Saying lofty words doesn't help if you fail to deliver. Everyone understands in German car industry that evs are future. VW has invested tens of billions in ev research and production.
“It’s over for German manufacturing.” 💯 Labor and energy costs are too high, and regulations are onerous.
It’s about relevant products and manufacturing efficiency. Tesla is doing fine in Berlin.
Nah, EV revolution killed Legacy auto. Kodak! Nokia!
@@larryc1616 parroting much?
@@larryc1616 Nokia and Kodak are both doing fine., So killed probably isn't the word you should have used.
I can't speak for Kodak, but at Nokia, some management mistakes were made (Many could only be seen to be mistakes with hindsight). Losses resulted. Parts of the business were sold. Management was changed and a change of strategy was enacted. It's still a profitable company.
VW's situation is different. They had a CEO who correctly identified the changes coming in the auto industry and highlighted the sort of actions that needed to take place. So they fired him and buried their heads in the sand.
@@larryc1616 EV's still suck...
The incompetence of senior management and the members of the Board of Directors is staggering. And the news flash is that many other legacy carmakers are just around the corner who are facing the same challenges. Idiots, all of them. I have no sympathy for them except for many of the workers who are going to lose their jobs very soon.
The former CEO said then The company had to restructure, become more efficient. The Union representatives on the VW board had him fired. Both sides are to blame for this mess! 🇨🇦
I have no doubt that if you were the CEO of one of these companies they’d be 100% EV by now.
@juliahello6673 they would have beat jaguar to the punch and looked like fools first
But it took rivian to fix your problems. I'm gen x and feel your pain with dealing with gen z but banning gas cars 5 years ago would have meant failing 5 years ago, when there was less infrastructure. Why rushing to make a company fail? Why make them so overly complicated? What are you planning on doing with Lamborghini?
The workers can just jump ship to another company. I wouldn't go so far as to say the CEOs are idiots ... they just are hemmed in by short-term thinking required by the stock market overlords. Notice both Tesla and the Chinese companies are successful due to long-term thinking.
The fact CEO's make no real sacrifice in their own personal bonus and incomes but expect it of people far less able to absorb any reduction in wages needs to be talked about far far more
I believe from the articles I have seen this is across the board with 10 % including CEO and no bonuses. Still the union says no plant closures... Do the understand if they do not do this no one will have a job? Its like the just told everyone the are on life support and workers don't get it. I'm not saying management and leadership didn't screw up but without cuts they are doomed.. probably won't help anyway, it's too little too late. HD tried to warn them before they fired him but Porsche and the union control too much of the company. *RIP VWg sold them their old platform and it will not compete in the Chinese market even with that.
Agree, they should lead by example
Workers are peons to those people.
Talk for what? Just fire the CEO already.
Talk, talk talk that’s all you people ever want to do! You never want to fix the underlying problem of anything in German Society. Anytime you have the inmates (workers) running the asylum you are destined for major problems. VW has to downsize, immediately. They have too many workers and too many auto plants for their shrinking markets.
I got fired 2 years ago, I would’ve taken a pay cut if that meant keeping my job.
Pay cuts in this scenario would likely end-up in layoffs, it's just a matter of time, and that's what this uproar is all about.
Would you take a pay cut if you knew you were still going to be made redundant? That is the situation facing VW employees.
10% pay cut 2 years ago, 10% pay cut last year, 10% pay cut this year, 10% pay cut next year... Pretty soon you're working and making what you're making now.
@@monkeysuncle2816 If layoffs are inevitable and redundancy payments are based on your salary I can understand why workers want to maintain their salary to the end.
Asking employees to take paycuts is really a scam while the bosses take home multimillions. 🎉
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family
How please?
Yeah, since meeting Shellane Maxwell, I now agree that with an expert managing your portfolio, the rate of profit is high, with less risk.
I will advise you stop trading on your own if you keep losing… i don't trade on my own anymore, I always required help and assistance
Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!
She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.
Good advice to anyone today, Don't simply retire from something; have something to retire to. Start saving, keep saving, and stick to investments.
Everyone should have BTC in their portfolio.
Investing in many source of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Good assets and digital currencies are still good investment at this time.
This is superb! Information, as a noob it gets quite difficult to handle all of this, and staying informed is a major cause, how do you go about this are you a pro investor?
A big thanks to Jihan Wu with his trading advice, at least I can afford a good home and also have to retire early.
As a beginner in this, it’s essential for you to have a mentor to keep you accountable.
Jihan Wu is also my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.
Jihan Wu Services has set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helpful and changed lots of lives
Buying a VW has always been a risky business
The dealers and parts are ripoffs
@@markjonz always has been.
I bought one and it had nothing but problems then swapped it for a Chinese car and it's way more reliable and costs me far less. I really cannot see these German automakers surviving at all. They are pumping out ovepriced trash.
The worst car I have ever driven came from VW
Disagree. Had VAG group cars for 20 years and they've been reliable. May be different with the new cars.
On world level, 76.67 million cars were sold 2023, of which only 13.8 million were electric (INCLUDING HYBRIDS).
EU=11.14M cars / 2.45M electric/hybrid cars (In 2023, BYD sold 15,644 electric vehicles in the region making it 0.14% market share in EU)
China=21.32M cars / 8.1M electric/hybrid cars
USA= 14.63M cars / 1.39M electric/hybrid cars
While this channel is hyping EV's as the only viable cars to sell, it really does not show just yet, other than maybe in China (wonder why, eh?) where they have a decent share of the market. China is a wierd market right now, and BYD is huge there, good on them and I hope their effective production can rub of on VW and make them adapt faster towards more and better cars/profits.
Another fun fact, In EU new car sales of VW group were up +2.9% while Tesla was down -11.4%. (jan-oct 2024)
VW is mostly struggling with expensive plants, showed by its decline in profits and its need to close down these in expensive regions ie. cut costs.
And as "The Electric Viking" clearly own stocks in various companies, the channel is hardly fair or unbiased making it hard to listen at times.
Rivian is fixing the problems VW has had with computer modules and software systems integration. Rivian took an Audi E-tron and converted it over to Rivian modules and software in 3 months. VW management and engineers were floored. This is how the deal with Rivian came to be. Rivian engineers did in 3 months what VW engineers could not do at all in years.
I hate it that Rivian is bailing out VW.
@@WillieFungo It’s just business, and I’m cool with it. VW still makes durable cars, even if they’re behind on innovation. Rivian, on the other hand, really needs this-they’ve been in financial trouble, and this partnership could be the boost they need to steady things. Smart move for both sides!
@@HullioGQ No, Rivian is giving away their economic moat. It would be better to wait out VW's collapse and try and take their market share. Software is the only advantage next-gen automakers have over the incumbents.
@@WillieFungo VW’s $44B market cap still overshadows Rivian’s $12B, but VW isn’t without challenges. Even with plant closures in China and declining profits there, VW's established global presence and steady revenue streams give them a far better chance of weathering financial storms than Rivian, which continues burning cash. A VW buyout of Rivian within the next 12-18 months still seems like a plausible move to boost their EV ambitions.
@@HullioGQ Where VW going to get the credit to make this buyout? Their finances and projections are frankly trash.
I'm sorry, but as an American automotive repair tech, that dispise German automotive engineering, I can't help but laugh my bottom off🤣
They did this to themselves. Overpriced, over engineered, and now the ev push, absolutely caused this on themselves
Your turn is coming ... very, very soon.
@@capnkirk5528kaboom 💣💣😂😂
@capnkirk5528 my favorite company is up over 20% in the markets. Even ford is down 7. Evs are dead here
@@mrbig7718when the Tariff king takes office it's game over and job losses
@@mrbig7718 No economist is willing to predict a turning point (as a rule).
But, barring something very extraordinary, eighteen months from now at least one US automaker will be either in Chapter 11 or being bailed out.
Also, the math says that even Americans will switch to EVs, despite the efforts of the fossil fuel industry.
"What goes up, must come down..."
There’s no reason for workers to take pay cuts until the leadership takes a roughly 80% pay cut, freeze on bonuses for a few years, cut spending like private jets and luxury “meetings”.
The system should be changed to give the CEO a fixed monthly salary. Only when their term in office ends then the board should assess how well the companies financial performance has fared under the CEO in question before deciding if a bonus is deserved or not. Those who fail should not be rewarded with bonuses and share options. Currently shareholders votes are non binding and that needs to be changed.
Paycuts from management or banning „luxiry“ meetings wouldn’t affect the financial results or profitability outlook of the company. Paycuts for 100,000 workers would. These symbolic demands bring absolutely nothing to remedy the problems they have. Nobody from the unions stopped to think for a second how and why they were getting away with salaries way way above the average in Germany. But now management has to „suffer“ to make them feel better?
then he can easily move to another company that pays $30 million - the workers can move too but likely pay less if they can find another job
Leadership needs to lead the way.
@perdst Don't hold your breath, nothing will ever change
I am VW guy but what a problem, I told them that they gonna fail since they fired Herbert Diess CEO and cancel Tesla-like strategy.
We used to be VW fans but that changed in 2009 with a jetta purchase that was very disappointing.
We had a 1995 jetta. Perfect car. Every car VW made past 2000 is just trash. Pity.
I have a 2007 Fabia. I wouldn't touch any VW brand after 2008. Too complicated and even more so to fail.
It's like watching the UK in the 80s, with their car companies Crash n burn due to Germany and Japan imports
@@Richard-pe1cd the 90’s vw’s were the last of the decent ones as far as reliability goes… they were still expensive for what they were but I remember they were mostly reliable.
Looking at the financial numbers and the sales numbers, even if the workers took a 10% pay cut and shut down three plants, this company would still be in trouble. Investments in plant and equipments and future model development are sunk investment costs with large borrowing debts that can only be recovered with sufficient volumes over time. They have massive debts and volumes are declining, the financial numbers say it all. I do believe the first steps will be to sell off their Luxury brands, close more plants, and increase ventures with Chinese companies .
Senior management only use their last moments to distribute money. In fact, their income has hardly been affected. But workers will lose their jobs.
I love how you broke down the XAI501x project in your video! Can’t wait to see it skyrocket!
Dear VW employees, take the pay cut or find a job elsewhere. And in a few months there will be mass layoffs anyway and most will loose their jobs at VW, worldwide.
There will be mass layoffs regardless. Would you take a pay cut knowing that you are going to be unemployed in 18 months to three years anyway?
@@skasteve6528 at least still have job and searching job if available
@@skasteve6528then what’s the point of striking if the layoffs are inevitable?
It is not appropriate to lay off employees while senior management still enjoy high salaries
I´m an employee and we actually would take paycuts or reduce down to a 4 day labour week for job security - thats also what our union offered
Sell, it is a no-brainer
And then it goes to Saudi or Chinese companies then we lose factories, history and economy again to the point we don’t have ownership or jobs then towns county’s and the country gets closer to poverty
@@bigblivin9722So the only option is to close the factory... problem with Germany's high cost specially energy, who's gonna buy it? Arabs and Chinese are not idiots.
Diess tried to warned them all 😂😂😂
Are these union workers also protesting the government for which they voted and who set the table for the automotive industy disaster?
The writing has been on the wall for 25 years where all of the car industry needed to go. There is nothing new that the government did or released that was not known for that whole time. The government has simply ratched up the Euro standards every few years to set the path from point A (100% ICE) to point B (100% emissions free). This is not the fault of government, after all the mandate for climate action comes from the people electing them. This is 100% the fault of the automakers, who have fought each step of the way and undertaken the absolute minimum required every step of the way. VW was different when lead by Deiss. He saw the future and tried to steer VW in the same direction that world governments were going. He constantly benchmarked against the EV leader, Tesla. But when he was removed and replaced by a petrol head, and the company pivotted back to ICE and hybrids, therin lies their current problem. That and not seeing the rise and rise of China, where VW gets 50% of its profits.
This isn't the fault of the government. The management knew this was coming and did very little about it. You can't blame the government for the bad management at the top of the company.
@@zoransarin5411
The real culprit here is the Chinese Government, giving subsidies to Chinese Manufacturers and rebates to Chineses Citizens to buy Chinese cars EV's, so that foreign Companies like VW can no longer be competitive in the Chinese market.
VW is now faced with the prospect of losing 50% of its profits and has to rely on other markets that have much higher labor and manufacturing costs, and thus lower profits.
The increased cost has been caused, partly, by the German and other Euro Governments obsession with net zero, and the increase in power costs that, that direction has taken things.
With high wages and high power costs, and low, if any, profits, VW has no choice but to get out of manufacturing in Germany.
@@zoransarin5411 The Government forced the Change to EVs AND they caused the CO2 taxes.
There is no Reason for Germany to do anything about climate change because Germany will benefit from it.
@@skasteve6528is the government's fault. The government created and implemented policies...
The country and the company have done so many things wrong that it will be the subject of books to come. Best thing management could do is declare bankruptcy, reorganize with a tenth of the workforce, sell the premium units off, find a Chinese purchaser. It's not possible to sand down a rotten log enough to make furniture.
No books. No Body cares😂
In the past, a Chinese company might have bought a brand at a knock down price, to enable them to sell in a western country. That ship has sailed long ago.
Sam taking no prisoners 😂 love it. 🙌🔥
the writing's on the wall....
This moment is just gonna happen and it is. VW has never produced sexy nice good reliable cars. They are always full of problem
As a VW owner since 98 lmao I tend do disagree. I’ve had hardly any major issues over the years.
Always drove GTIs and Rs so I think thry look better than most cars, hold up better too
I have 2011 Golf Tdi almost 300 km on it and it still runs like new!!! Very reliable and cheap to maintain
@@mirsadkulasic2497 Everything is relative to EVs.
We should probably stop using the term "labour cost" and just call it "production cost". The production cost in China is lower due to a combination of factors: streamlined regulations, streamlined supply chain, government policies aligned with industry, lower cost of living meaning no need for higher salaries.
I work for a car manufacturer in the UK. In 2017 said manufacturer was opening a plant in China so we had a group of Chinese workers come over to see how we operated over in the UK. I asked one of the lads who came over from China how much they were getting paid. Shockingly he said £400 a month. I pick up double that in a week after tax. No wonder companies were scrambling to open plants in China. 😂
Aww but that wouldn't be sufficiently sinophobic for western media
@@dave.1981China's economy is structured in a way that keeps the rmb low and the cost of living very low. And because critical production is publicly owned its resiliant to external market fluctuations and immune to profit motivated interests. Smart.
A major factor is low power costs, because China didn't just bow down to climate activists and shut down their cheap power producing plants.
It's all very well to want a clean and C02 free environment, but tripling and in some countries, quadrupling power prices over a decade is just a recipe for economic suicide, and Germany is on suicide watch, factor in already high wages and the Chinese Government making it very difficult for foreign car Co's to compete with the local car Co's with subsidies and rebates, and you don't need an economics degree to see why VW is in the poo.
@SaintKimbo China has a hugely diverse energy grid focused on renewables first and phasing out fossil fuels in favour of nuclear/solar/wind, augmented by gas. I think your idea of the Chinese energy situation is way out of date.
NO, NO, no one wants to touch VW until the house cleaning is over
When the house cleaning is over, they will be no more.
Hey, sorry for saying this. The problem is not VW as a brand. The issue is how the German culture is. Running a company today means being fast, agile and adding value to the customers. Again sorry, this is not within the German DNA at all today. I have been working and exposed to the German DNA for 20+ years now as a foreigner, and his is not simply the culture. It is rather stiff, extremely formal, slow and no value add thinking at all. That is the problem according to me. Please change the mindset German people, otherwise you are screwed. Cheers and love you!
And yet it's been an industrial power house since the middle ages. Methodical and consistent often win out in the longer term.
same as japanese..... too much paperwork, slow decision making, missing trend after trend now a relic of post war industrial age...
This trend is not unique to Volkswagen or Germany, as many developed countries face similar challenges. Unfortunately, the United States, in particular, shares a similar story in labor and auto manufacturing.
Changing a company this much is very difficult and maybe it would have been easier to start again with a sub brand which gradually takes over the parent. I think this is what Deiss was trying to do with ID but he didn’t get the support
I understand where you are coming from. In this case, it is the German auto industry as a whole rather than a specific brand that is going to have problems.
The traits you've commented on aren't specific to Germanic people (I'm including the other Germanic countries here, including England), The Japanese have similar characteristics (reserved, formal, slow to jump onto the latest fad), which can be a good thing as well as a bad thing. Interestingly, the Chinese and Koreans have similar characteristics. Perhaps it is the people who aren't like this, who are the outliers.
It’s over …… they only have themselves to blame….. Nio will own Europe.
Guess they needed Herbert Diess more than they thought.
What is Diess doing now?
Once VW dumped Diess, they were done.
@@LarryH49Nassau? Bermuda? Laughing his head off? 😂
They, the executives, did not need Herbert Dies!! He would have cut their bonuses, rightfully for cashing by sleeping!😂😂😂😂😂😂😂
@@Suburp212… “laughing his head off”?? From watching Diess for over a decade, I would say he is crying for the loss of the historic brand, and all the worker’s jobs, and al the investor’s money.
Shipbuilding has all but disappeared from Europe. The Automotive sector will likely go the same way for very similar reason - costs and labour relations.
Nope it’s all due to greed
@@daveryder4430 it all starts with the government… they are hostile to foreign business. Much like India. How are you going to have an economy without manufacturing and business?
@@David-ej1ps Greed by whom, in your opinion? There's enough to go around on top of the heavy regulatory environment.
@@VAspeed3 the companies that want more profit at all costs
@@David-ej1ps Everybody wants more money at all costs, so the whole thing will fail.
The Executives annual salaries may not come close... They should be required to dip I to their savings, which should be considerable, given their high salaries.
The decision to allow the Company to fall so far behind (and resist) the transition to EVs is not down to the Workers.
Exactly - more EVs is the solution.
If they start making vehicles like they used to for a reasonable price and dump the EV, I know Americans will buy them.
How much of a pay cut is the CEO and the board taking? Lead from the front.
The VW CEO and C-suite officers made a lot of financial bets, seems to have lost, and they want the union to pay for it. Obviously there are other issues with the problems, but the C-suite executives should take similar or larger salary hits and layoffs since the crisis seems to have originated there. Obviously cuts to C--suits bonus/salaries will not be enough to solve the problem, but they should lead by sharing the pain. In 2023, Oliver Blume is estimated to have made around €8.7 million, and the Board of Directors receive a salary of €15 million each. Maybe they should be laid off. I think the "bloating" starts at the top.
First time I've seen a whole country go woke, than go broke.
You are so right about VW. My wife used to work for these guys at a high level. They let go the people with knowledge and experience to keep themselves from looking bad and making positive change. . It’s catching up with them now. Too bad. Such a great brand that they let degrade.
Quite common in a lot of industries I am afraid, that is why I have had my own business for decades.
Don’t blame the workers. Sure - they want to protect their position and their demand for a pay rise seems baffling, but it reflects the cost of living in Germany.
The real issue here is that VW execs have failed to adapt to the changing market. They backed ‘clean diesel’ to the death and waited too long to develop good EVs. Their real profitability has been obscured for years by selling so-called premium ICE cars in China, but now the Chinese don’t want them. They are producing better and more affordable cars themselves, highlighting that VW’s product is both antiquated and overpriced.
Please stop talking nonsense.
VW and other foreign car makers are being FORCED out of the Chinese market by the Chinese Government giving handouts to the Chinese manufacturers and subsidies to Chinese Consumers who buy Chinese EV's, no one can compete with that, no matter how good your cars are.
This is just going to, and already is, start a tariff war between China and the rest of the world.
Do you really think that Germany and other car producing countries are just going to let China sell their Government subsidized cars at prices that are going to destroy their car and associated industries, after the Chinese Government made it UNPROFITABLE for their own manufacturers to produce in China?
VW's EV is much worse than BYD's.
I think VW is still using the ICE approach to design EVs, which is the reason for their failure
In Germany, Tesla somehow seems to be doing just fine. I saw a VW video a couple of years ago showing their production line. It was like watching someone wading through glue! so frustrating, come on guys, just get a move on. How many people does it take to fit a wiring harness? 4 by the looks of it, one doing most of the work and the other 3 supervising etc. The harness itself was a monster compared to the Tesla one by the way. No wonder Tesla can make a car in one third the time VW can.
Wouldn't it be funny if VW goes bankrupt and is bought out by Xpeng?
I don't think so. VW Group is so much bigger than Xpeng alone.
Don't think so as the real value of VW is below zero and Chinese are not dumb.
Maybe an indian company?
they can´t be bought, because 20% of vw is owned by the state of lower saxsony, who would never sell, because 2 million jobs bound to vw are located there
Not reliable brand for sure. Not sad to see the pain at VW.
Would be karma if they went out the hoot after the diesel gate fiasco. Thanks Viking!
Ev future has killed car industry
The German government and EU want this to happend apperantly.. Forcing EV's on them with heavy fines.. It's sickening really how they will sink the German auto industry..
We sold our Volkswagen last week. Bought another makers. Partly because we don’t believe they will keep their value plus hard to get service at a reasonable price.
Time to face the consequences.
Thanks - love that, “If you’re a VW fan, unsubscribe and stick your head in the sand!”
I have a friend like that- VW can do no wrong as far as he’s concerned. However that’s nothing new, he said the same just when we all found out about dieselgate. (Bashing head against wall! 🤪)
That's what VW gets for sitting on their laurels . They have done that since 1999. Very small improvements here and there while everyone else was leaving them behind in luxury, features, LED lighting, not giving Americans the same features on the European versions of VW models. With all the money they had, VW could have made a really bold move to be real trail-blazers in the EV field, but a tiny American start up, Tesla, just ate VW's breakfast, lunch and dinner.
Respectfully & Seriously led lights are toxic to human eyes (think brain) Ask Doctor Jack Kruse. Sue any employer that installs led lighting at work, class action.
Cheap natural gas supplies from Russia are gone, Forever, period; costs will naturally rise and won’t be able to compete with other vehicles.
Ursula said “why Europe doesn't import CHEAPER natural gas from the US?"
Bullshit argument.
Sell your stock before it happens 🤣🤭
The impact of Nord Stream pipe line, if overheads are higher, you can’t survive.
Ursula said “why Europe doesn't import CHEAPER natural gas from the US?"
@
Indeed she was 100% correct isn’t she
Wow, great conclusion but frankly speaking complete bullshit. Tesla in Berlin is doing great. Why, why.
Its lacking innovation, complacency and more moaning 😂😂😂😂😂😂
To show a spirit of shared sacrifice, cut all compensation down to the median worker's wages (the executive suite also). But those greedy narcisists at the top never will. Last years 8 figure salary must be maintained for them.
Good idea
If I were an executive at VW, I'd quit if my salary took a hit. Penalising C-levels will only get you the scrap of the barrel.
management should take 10% off their wages..
Management owes you nothing.
The salary cuts are across the board, including executives.
Well the union did propse pay cuts for their members (totaling about 1.5 billion euros ) back in November, provided VW could guarantee that the future of all Volkswagen’s German factories would be safe, along with job security guarantees. They also proposed that senior management forfeit their bonuses. VW couldn't agree to this as they know that plant closures are inevitable
They should be taking a lot more than they are asking the workers. 10% of millions is meaningless and the ceo won't notice the difference. Whereas the workers will notice their 10 % cut.
@@JohnSmith-ux3tt And? The total compensation of all the workers combined is like 100x more than the CEO's salary. Plus it's harder to find a good CEO who has experience with the company's operations.
my favourite sports team is still sponsored by VW, I wrote to them almost 2 years ago and said VW are screwed run, they have since extended the VW sponsorship deal, very few of us understand what is happening and we have understood for a while now, it's so bloody obvious but apparently not to the suits, tip of the hat to you Viking, I've literally been laughed at with my legacy auto collapse predictions and I bet not one of those laughing at me for a couple years now will give me any credit whatsoever. I've been all in on Tesla for 2 years already, and not because of cars 💥
Not only Volkswagen , but also other big companies will go bankrupt in Germany. Instead of supporting wars in the world, they would have done a better thing if they had helped their own companies and provided financial support to their citizens.
How much socialism can you handle? I hear former East Germans missing "the good old days" where the State led everyone by the nose everywhere, and you had little choice.
"Ask not what your country can do for you, ask what you can do for Ukraine"
You could also argue that unless the creep of Russia's land grap is halted you won't have a country left to work in.
Due to NATO blowing up Nord Stream German industry is finished. They need lower energy costs not lower wages
Coukld it be a KODAK moment?
Everyone takes a pay cut, including all the executives, and remove all bonuses and their 😅golden parachutes, then we can talk.
The executives are taking the same pay cut as the workers.
what would the Chinese offer for /pay for , say, brands Skoda , SEAT, Lamborghini? 10 Bn in total or 5.5% of the debt burden ? correct t me if I am far off
My revivifier says, “ I’ll buy SEAT for twelve bucks!”
Chinese auto makers don't need those brand names. They are already exporting thousands of ev,s to Europe without using those brand names. Better to put those profits into developing better electric motors and batteries for future models.
First Elon bought X and now he launched the XAI501x token this year is crazy
As you said VW makes a lose on every EV they sell. So, I blame investments in EVs. Cost too much and no reasonable person wants one. Hybrids are acceptable that's why it's sales are growing.
No reasonable person wants an EV? WTF 😂
lmao...the demise of the existing automakers, as we are now seeing with VW and Nissan, and many more to follow, is because they are NOT sufficiently pursuing EVs. Not the other way around. If EVs, and the investment in EVs is the problem that you think it is, explain why the biggest automaker in the world by market capitalisation is Tesla, a 100% EV maker. Shares in Tesla are currently going through the roof. They have no debt like VW and Yoyota ($339 billion and $398 billion respectively), are sitting on a pile of cash, and selling all their EVs at profit.
VW is failing for the same thoughts that you have. VW don't believe in EV and is only made enough to be in compliance. The irony.
you are kidding of course! ask Tesla, a lot of 'reasonable people' buy them it seems. The only reason hybrids are acceptable now is because of the latest trendy knee-jerk perceived lack of range and charging options. In 5 years, full evs will be the norm, the reason - all the tech including batteries will be way ahead of what ice vehicles will offer. You cannot charge your diesel from home no matter how big it is, but it is possible to charge your ev from home if you have the room. Also, ev companies are now offering up to 10 year warranties, how many ice cars can match that?
Only 10% pay cut, they'll probably still be the highest paid auto workers in the world.
(UAW just keep following VW's lead)
Their high salaries come from VW's profits in China.
But their unchanging car models have lost the love of Chinese people
No mention of this on the BBC or any British MSM.
Bought XAI501x after watching your video, super excited!
This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market business. or get you a skilled practitioner.
Exactly, most of the investors pays more attention to the profit aspect forgetting that the market involves ups and down. securing your financial position requires lots of patience and proper education on the market so as to know the right profitable stock to buy and invest in. I made over $260k in profits, from just the Q4 of 2021. Investing in the stock market is most profitable when you understand how the market actually works.
I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?
Her name is “ Melissa Terri Swayne” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.
The senior management of VW is to blame. Management underestimated the disruptive effect of government sponsored EV revolution. The management responsoble for developing the EV vehicle should be fired.
Now if i was CEO i would shut all plants until the union dispute is settled.
Every citizen that pushed for the EV revolution? Are they still sure about the EV revolution?
The prioblem is overpricing.
Sam, I looked this up. Median wage for a union member at VW in Germany. 62 Euros per hour. Tesla pays its production workers in Germany about $20 per hour, but gives 30 days paid vacation. Median wage for production line worker at BYD in China is $4.20 to $9.00 with most at the lower end. Tesla pays about $9.00/hr in China with some overtime. Free meals and transportation. VW data in China are opaque but it's less than $20 an hour. There is no way VW Germany can compete pay 62 Euros while BYD is paying $4 or $6 or whatever in China and making better cars. The IG Metall union workers are going to bankrupt VW. They can't compete with Tesla in Germany either. I think VW is doomed.
VW should open factories in India, where wages are much lower than in China
I wonder if this has anything to do with the junk quality of their cars
100% ..
I always loved VW but after diesel gate? Then they fired Dietz (spelling?), a CEO who knew what was coming and what had to be done. Add to this, I wouldn't be surprised if they were behind much of the negative propaganda and vandalism toward the Berlin giga factory.
Herbert Diess
How can you say they don't want to sell electric cars? :)) Yes they do. That's why they are in this deep shit. :)
This is what hubris can do to you. German car this and that. Now beaten by China? LMAO
I’ve seen this before a big companies where they drop like this. And then all of a sudden they buy more stocks and they go up the hell with them. Kinda like a game for the rest of the world.
XAI501x is the gem of 2024 it's literally owned by Elon Musk
Largesse in Germany factories is rife. Australia lost their manufacturing for same reason, Britain before that.
Lack of investment, lazy middle management, uninterested shop floor, terrible man hours per vehicle. Overlong holidays, sickness benefits...the list goes on.
I had a few friends who worked at Holden in Brisbane, same crap, strikes for any pathetic thing, just went for anything they could get at the time, but the cars they put out were rubbish, I sold my Belmont, too many things falling off plus it used to 'whistle' as it went, if I wanted a radio, it had to buy a 'special' . My mates Datsun 1600 had everything included, and it was stock standard!
A rewrite of history here mate. Holden closed because in the early 2000s GM made a strategic decision to pull out of all RHD markets - they just bullshitted about it in Australia to keep getting those government subsidies. They also shut up shop in the UK, SA, India and Thailand.
Another Kodak moment the management should have seen coming. That is a major reason for management existence.
The management DID see it coming. Carl Diess (the CEO) kept loudly saying "we need a total restructure and focus solely on EVs or the Chinese are gonna cream us in world markets". For which the board sacked him in 2022.
A lot of the commenters here just focus on the US market but it is the other 85% of world sales, where the Chinese are indeed creaming them, that actually matters to VW. They could pull out of the US tomorrow and be OK but if they lose Asian markets, as they are, they're toast.
Diess was fired in disgust for doing the right thing. All involved in that decision must now be fired immediately. In HR, in the labor union, in the senior leadership.
Every lose her that wanted to purchase a (catch on fire) electric car already has one. NO smart person will buy that crap. Wrinkle Wrinkle Women
EV manufacturers and dealers are targeting women, young and old, because their an easy sell. They don't realize the true dangers of Lithium batteries
@@Wendy-nm9zw Are you people really this stupid? It is not hard to google EV sales for the last few years
2020 - 2.98 million sold
2021 - 6.6 million sold
2022 - 10.4 million sold
2023 - 13.9 million sold
2024 - 16.7 million sold (estimated based on first 11 months sales)
Does that look at all like EV sales are going down, or slowing, or not selling?
Maybe google phase out of fossil fuel vehicles. Find a list of the dates at which many many countries will ban the sale of fossil fuel cars.
This isn't rocket science.
@@zoransarin5411 looks like you need to get out into the real World.... Anyone can put numbers out there. The trouble is you're looking at the wrong information
@@Wendy-nm9zw
If lithium batteries are dangerous, I'd throw away my smartphone right now.
I am in the US. I witnessed flames from 3 cars this year myself, none were an EV and none appeared in news the next day.
But if it was an EV…I bet they make the news.
Game Over Germany. Game Over Japan.
Game over USA
I work in German semiconductor company and my friend works in Bosch and was working together with VW on autonomus fearure. He told me to buy VW stock back in 2021. I bought the stock. 2 months ago i was at 50% loss. I had enough and didnt see any future. So i sold my VW and invested all the money in Tesla. It almost doubled within 2 months. Best decision of this year so far.
Where was the VW inteligencia, the brains of VW in the first part of the 21.st century? Now it is too late.
The brains slowed down into the comfort zone of lining their own pockets.😂
The intelligence shows how they did handle diesel gate!!!
Corrupt bunch of executives
They sacked the CEO in 2022 for publicly saying pretty much exactly this.
As VWAG owner and fan I appreciate this video. It is well researched, direct and honest commentary and unbiased (seemingly). My two cents on the situation is everyone needs to sacrifice and compromise from the board members to the employees. And my observation from the reaction/actions taken by both is that it’s not about the company it’s about looking after themselves, which I can understand from both perspectives but is only going to hurt the country if there’s no resolution.
The Chinese have found out how to turn the ev into a home appliance like a washing machine
i have never understood the love of VW.
same as tens of junk US brands which americans love and they are absolutely junk... and hence why with time, japanese brands started to take over..
Investors are fleeing all Ev interest here in the U.S. People don't want them, Way to Dangerous and a major Hassle
electric cars are almost as bad as amerikan feemales.
Enjoy the slide down cowboy. The US is in worse shape than Germany
Not according to Tesla's share price. I hope you are never my doctor as you seem to be as thick as 2 planks.
So how come investors are falling over themselves to invest in the latest eve companies, regardless of how sketchy the business?
stats please
There is less and less interest in EVs world Wide
🤣🤣🤣
Yeah. I hear the sales of horse and carriages are booming,🤡
False
@Evsmart-w8n is definitely true in the US
EV sales for the past few years are as follows:
2020 - 2.98 million sold
2021 - 6.6 million sold
2022 - 10.4 million sold
2023 - 13.9 million sold
2024 - 16.7 million sold (estimated based on first 11 months sales)
I showed my donkey these numbers and my donkey said "yep, EV sales are definitiely growing and not seeing less and less interest".
I would suggest you get a donkey to help you with more intelligent comments
What planet are u on..lol
Here is a tip VW.. Start making cars that people want. This means STOP making EVs. Cut debt by selling overseas plants.
compare the share price of Tesla to VW. Yep, really smart to stick with ICE when the world is going EV. Buy more shares of VW Ken and watch your fortune grow
That is a sure fire fix. Continue making cars that you specifically want, even though demand is falling. Stop making cars that there is a rising demand for. Oh and whilst your at it, close some of your most productive plants.
I'm sure your future tips will be more eagerly awaited than Warren Buffet's.
@@zoransarin5411
I'm pretty sure @ken3288 doesn't like your retort at all 😅😅😅
@@skasteve6528
I'm pretty sure @ken3288 doesn't like your retort at all too 😅😅😅
Means going bust within 2025. Excellent suggestion as the debt is higher as all their assets. You must belong to the monkey family as you also did forget to mention their shady diesel gate story of misleading customers.
VAG fan. But please keep the news coming. I just priced a the new IDBuzz and seriously WTF is VW thinking. The range is 190miles and the price is absurd. I will stick with gas engines for now. That for VW might actually be the unforeseen win. The new Jetta looks like a gas miser and well priced.
I've been driving VW ev since 2014.. Now i've had enough.. Bought a 2012 VW Golf 1,6TDI.. Their EV development is a joke.. train wreck in slow motion
Sell! Retail investors can get out quicker than government institutional players. Run! Think Nokia, Kodak, Video rental stores. Milk co-operatives. This is the end because of technology. Not because of bad executive management or bad workers.
it is because of management, that make the calls (or lack of) on tech, not tech itself.
The government will bail them out, as always.
That's the thing with these big companies that are "too big to fail." It's the same with banks. CEOs don't even care as much about making sound business decisions anymore, because why bother if they'll just get bailed out anyway?
The government's intervention in enterprises is the most terrifying
Take a look at Northvolt and you'll see how the EU wastes people's money
German government is also bankrupt.They cannot spend any more than they have because it is written into the German constitution.Game over.
Thank you Lord Jesus for the gift of life and blessings to me and my family $14,120.47 weekly profit Our lord Jesus have lifted up my Life!!!🙏❤️❤️
I'm 37 and have been looking for ways to be successful, please how??
Sure, the investment-advisor that guides me is..
Mrs Joyce kim
Same, I met Joyce kim last year for the first time at a conference in Wilshire, after then my Life has changed for good.God bless Joyce kim
Her services is the best, I got a brand new Lambo last week and paid off my mortgage loan thanks to her wonderful services!
The whole board should resign in shame if they had any honour. It's their stupid decisions that have got the company where it is. Bring back the Golf, strip all the unnecessary electronics off, match the price with the Dacia Sandero, currently the top selling car in Europe & they might just have a future.
People in China like VW becuse they have been in China for a long time. I remember a time when every taxi in Shanghai was a VW Jetta. Many people, have fond memories of owning a trusty old VW but their EVs are just not very good. Even if they have the Xpeng platform now, why buy a VW not an Xpeng?
If your product is too poor, fans will leave, even though they liked it yesterday
Yeah no choice. Selling cars in China for half the price and not closing factories there.
Self inflicted wound that getting worse, instead of stopping the bleed they keep pushing stupid policies.
The Electric Viking is spot on💯. This is the go to channel for automotive investors. Hoping your wife is ok my friend. Made $$$ listing to this channel. Shorted this stock based on your research. Made $$$$ on your reporting. Bless your boys mate.
Evening bro happy days for VW 😆
Time to dismiss the IGM.
Well lets wait till the election, if they dont come out in force against the greens and the SPD its over.
So all workers take a 10% pay cut. The average worker can no longer pay their health insurance or house payments. The CEO loses 3 of his 30 millions. So he does not even notice.
I agree with you on all this. What is your take on how to get out of the situation for VW Group? Would it be good to just dump the prices of current cars? What would that do now and on the longer term?
I would say: cancel old platforms, use gigacasting, xpeng platforms or PPE, add more standard equipment, lower prices and provide a better guarantee. My take on this is rhat it must be better to sell cars with a loss than sell no cars at all.