Volkswagen Faces Potential Audi Plant Closure Amid Declining EV Sales

The German automaker's struggles in China and Europe prompt cost-cutting measures and a lowered profit forecast.

Volkswagen is considering closing its Audi plant in Brussels due to weak demand for the Q8 e-tron.
The possible closure would be the first for Volkswagen in Europe in 26 years and could cost up to €2.6 billion.
Volkswagen's overall EV sales dropped by 8% in the first half of 2024, with significant declines in China.
The company has lowered its 2024 operating return forecast to 6.5-7% from the previous 7-7.5%.
Volkswagen aims to boost sales with new models like the VW ID.7 Tourer and Audi Q6 e-tron.