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.
Volkswagen to Reduce Annual Production Capacity by One Million Cars
Volkswagen's Strategic Production Adjustments
CEO Oliver Blume's Announcement
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.
Investment and Capacity Reduction Measures
"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.
Global Production Targets
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)
