April 21 (Reuters) – Volkswagen plans to cut its production capacity by another one million cars, CEO Oliver Blume said in an interview with business news outlet Manager Magazin published on Tuesday.
“On the one hand, we’re investing heavily in products. At the same time, we’ve already taken extensive measures. We’re currently looking at cutting a further million units of capacity to reflect the global market situation,” Blume said.
Overall, Volkswagen aims to cut capacity to 9 million cars worldwide per year from originally 12 million, the CEO added.
(Reporting by Linda Pasquini, editing by Thomas Seythal)
