Friday, April 4, 2025

Volkswagen owes 3,200 billion kroner away

Chief financial officer and chief operating officer of the Volkswagen Group, Arno Antlitz, tells Reuters that the car group has one – perhaps two – years to reverse the trend.

Volkswagen owes the equivalent of DKK 3,200 billion. But according to Arno Antlitz, Chief Financial Officer and Head of Operations at the Volkswagen Group, it is possible to reverse the trend.

However, it must go quickly. Arno Antlitz believes that he and the rest of the management have one or two years to get the debt under control.

Reuters writes that.

Volkswagen even has to pay interest on the DKK 1,900 billion alone. So something must happen now, if the German group is not to succumb.

READ ALSO: Cheap Chinese brand will make super batteries for electric cars in 2025

But falling sales and huge investments hurt Wolfsburg. And the debt will only become an ever greater problem. It was in a speech to the employees at the headquarters in Wolfsburg that Antlitz made the prediction that Volkswagen is running out of time.

– We have spent more money on the brand than we have earned for some time now. It doesn't go well in the long run. If we continue like this, we will not succeed in the transformation, said Arno Antlitz, according to Reuters.

However, the finance director also tried to lay off some of the responsibility. Instead, he shot that, among other things. on the corona pandemic and the consequences it had for the industry.

– Because of covid, around 16 million cars were bought in Europe. During and after covid this number dropped to around 12 million cars as the entire industry did not have enough microchips.

– The market in Europe has recovered since then but cannot and will not return to the previous level.

– We expect that around 14 million cars will be sold per year in the future – and that is a high goal. So two million cars are missing, Antlitz said.

Latest

Don't miss

Jeremy Clarkson reveals serious problems

Jeremy Clarkson has seen better days. His health in...

Car giant faces loss of 75 percent of profits

Stellantis, the world's fourth largest car group, risks losing...

Volvo fires director – gets 31,000 kroner a day

Volvo Cars has decided to fire its CEO. Jim...

Nissan drops electric cars for 4.5 billion kroner

Nissan and Renault were supposed to have developed a...

Famous car crash results in prison sentences for two Volvo owners

The so-called Thursday meeting at the port of Roskilde...
Boosted Magazine
Boosted Magazine
Boosted in Denmark has over a million unique users, surpassing two million sessions, and accumulating over seven million page views each month, and our platforms has become a hub for automotive enthusiasts. Now you can enjoy our content in English too! Enjoy our free car news - every day. Want to talk to us? Write an email to boosted@boostedmagazine.com
spot_img

Controversial repair shop chain loses 12 million

Skorstensgaard, which has been in the media spotlight for suspicious business practices on several occasions, has been in deficit for the fourth year in...

The battery in every fourth Danish car is too bad

New figures from the company Carly show that every fourth Danish car is driving around with a battery that is in poor or even...

He bought the world's last Golf GTI with a manual transmission

Cars with manual transmissions are, in the eyes of many, a dying breed. And now Volkswagen has built the latest Golf GTI. The last...

VW's BMW with W10 engine has received license plates

A few years ago, we wrote here at Boosted about Volkswagen's secret W10 project with a BMW E39 M5. Now the car has been...

Tax Minister on new rules for car taxes – this is how it will be

New rules need to be put on the table. At least when it comes to car dealers' tax settlements with the state, says Tax...

Important Tesla number is the worst in 3 years

Analysts had expected Tesla to deliver at least 370,000 cars in the first quarter of 2025. That is far from the case, the car...

Won Porsche and 340,000 DKK – now the car is completely damaged

The joy only lasted a few months for a man from Nevada, USA, who won a Porsche 911 GT3 RS and $50,000. Now the...

Motoring scandal costs Ulrik Linnemann European Championship points – and money!

Ulrik Linnemann lost both important points and money in Portugal – now he is fighting to save the season . A burnt engine proved...

The hyped electric car has lost over 50 percent of its value

Rimac Nevera has set several world records. And all at once. But the owners are now suffering huge losses in value. The owners of...

31 percent of Danes will never buy a Tesla

Just a few months ago, 8 percent of Danes said they would not buy a Tesla, that number has now grown to 31.8 percent....

Volkswagen panics – stops immediately

Volkswagen is immediately halting the delivery of all cars for import into the United States. This comes after the government's new tariff wall takes...

124-year-old auto giant lays off every sixth employee

German Webasto, which makes its living by making heaters for cars, is now set to embark on a major round of layoffs. Reportedly, this...