Volkswagen Has Entered a Critical Stage -- Market Talk

Dow Jones2024-11-11

1132 GMT - Volkswagen has entered a critical stretch, no longer able to delay long-overdue decisions on German costs and capacity, Jefferies analysts write. Negotiations over wage cuts and changes to conditions are set to start Nov. 21 and the bank expects strike action. Jefferies says the debate is more on Volkswagen's ability to shut plants and reduce headcount in Germany. These issues are separate from wage talks and don't allow for strikes, although disruption is likely. Jefferies estimates the cost of potential strikes, plant closures and headcount reductions at 3 billion-4 billion euros. "U.S. tariffs have become an incremental risk for Audi and Porsche [importers] and VW brand given production in Mexico," the analysts say. Shares trade 0.5% higher at 87.80. (dominic.chopping@wsj.com)

(END) Dow Jones Newswires

November 11, 2024 06:32 ET (11:32 GMT)

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Jefferies estimates the cost of potential strikes, plant closures and headcount reductions at 3 billion-4 billion euros. \"U.S. tariffs have become an incremental risk for Audi and Porsche [importers] and VW brand given production in Mexico,\" the analysts say. Shares trade 0.5% higher at 87.80. 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