Luxury carmaker Mercedes-Benz is to cut jobs with the aim of making more than €1bn (£840m) in savings by the end of 2022. The cuts which reports say will lead to more than 1,000 jobs being lost come as the carmaker faces challenges from new, tougher emissions targets.
Carmaker Audi is to cut 9,500 of its 61,000 jobs in Germany between now and 2025 to make more money available for electric vehicles and digital working.The cuts which aim to save €6bn (£5.1bn) will be achieved through an early retirement programme.
Competition in the electric car market is heating up rapidly. Within the next few years we could even see a battle for survival among the traditional mainstream carmakers, as they adapt to what will soon become a very different environment.
Being lean could be a big advantage.
UK car production could be cut by more than a third if the UK withdraws from the EU without an “ambitious” trade deal, an industry body has warned.
Analysis commissioned by the Society of Motor Manufacturers and Traders (SMMT) predicts that falling back on World Trade Organisation (WTO) rules would add £3.2bn a year to car making costs.