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The Latest Breaking News from Oliver Blume

Porsche Warns Employees The Business Model 'No Longer Works'

To say Porsche has seen better days would be an understatement. Global sales fell three percent last year, when tariffs weren’t even an issue. Shipments continued to decline through June this year, dropping six percent compared to the first six months of 2024. Even tougher times lie ahead, as evidenced…

Motor1

Porsche CEO seeks fresh cost cuts, warning business model ‘no longer works’ in post-Trump, new China world

Facing its biggest crisis in decades, the export-reliant carmaker already plans to eliminate more than a tenth of its nearly 37,000-strong German staff.

Fortune

Volkswagen in direct talks with US government regarding tariff deal

German carmakers such as Mercedes-Benz and BMW are also reportedly trying to negotiate tariffs directly with the US Secretary of Commerce, Howard Lutnick.

Euronews

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Volkswagen to make ‘massive’ investment in US in bid to avoid tariffs

CEO of Europe’s largest industrial group says he has been in direct talks with Donald Trump’s administration

The Guardian - UK

Game Over: Porsche Is Ending Gas Boxster and Cayman Production

We knew this day would come, so don’t be too sad that Porsche is about to pull the plug on its gas-fueled 718 duo. The current-generation Boxster and Cayman have been on their deathbeds since last year, when the sports cars were retired from Europe due to stricter cybersecurity regulations.…

Motor1

Porsche Shifts Course, Leans Into Hybrids Instead of EVs

Like a lot of automakers, Porsche made an aggressive push towards EVs. Its initial plan was for 80 percent of its sales to be fully electric by 2030, but at its annual shareholder meeting Wednesday, CEO Oliver Blume said that's not going to happen, though not for lack of trying.…

Motor1

Porsche Isn't in a Great Situation Right Now

Porsche might be in a mess of its own making. Sales for the German automaker were down globally by 8.0 percent through the first three months of the year. While sales in the United States were actually up, the foreign-made Macan and Cayenne made up nearly 68 percent of those…

Motor1

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Volkswagen shareholders demand 'part-time CEO' Oliver Blume finally drop his side job running Porsche

Three years into his dual assignment, Blume is facing increasing pressure to focus on one of his two posts given a perceived conflict of interest and mounting problems in China.

Fortune

Porsche Could Quit EVs In China

Where would Western luxury automakers be today without the Chinese market? Prestige brands have been riding the gravy train for years, but all good things must come to an end. The rise of domestic automakers has severely impacted demand for international brands; ask Porsche. Its sales in China slipped by…

Motor1

Tesla Is Bracing For Its Hardest Earnings Call In Years

Tesla is facing perhaps its most pivotal moment in recent history. The automaker's sales are slipping, investor confidence is dwindling and political pressure coming from within has stained the automaker's reputation. With its first earnings call of the year coming today, Tesla has a lot to answer for. I hope…

InsideEVs

The Porsche Panamera Will Have Gas Engines For a Long Time

It's been a busy week for Porsche. In addition to announcing plans to develop a new gasoline SUV to replace the Macan, the company also expressed its long-term commitment to ICEs. CEO Oliver Blume revealed during the Annual Press Conference that the Cayenne and Panamera will retain gas power "far…

Motor1

Porsche Cayenne EV Debuts This Year, Boxster EV to Follow

It's been two years since Porsche announced an electric Cayenne. In the meantime, the company's lineup has expanded to include a Macan EV. We've now learned that its bigger brother will arrive near the end of 2025. During a QA session today, CEO Oliver Blume confirmed the electric luxobarge will…

Motor1

Lamborghini’s EV Will Be Its Most Powerful Model Ever

Lamborghini is still set on launching its first electric vehicle by 2030, and it could have up to 2,000 horsepower on tap when it arrives. That’s what Volkswagen Group CEO Oliver Blume said in a recent interview, revealing that the EV will ride on a special platform developed by Porsche…

Motor1

Volkswagen’s ID EVs faltered in the U.S.—now it’s banking on a revived American brand

As EV sales cool, VW looks to defunct brand Scout for U.S. growth.

Fortune

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InsideEVs

General Motors Sounds The Alarm On Trump's Tariffs

To our American readers: Welcome to a new week. You officially have a new president, and he's promised a lot of change over the next four years. Many of his policies target the U.S. auto industry, which is now sweating over the sheer uncertainty that President Donald Trump's plan for tariffs…

Fortune

Porsche crisis renews calls for part-time CEO Oliver Blume to relinquish dual role at VW

Soaring costs, declining vehicle sales and problems in China are raising pressure on Oliver Blume to cede one of his two CEO jobs.

The Guardian - UK

It’s tough at the top – but which business leader has the most at stake in 2025?

From post and planes to TV, phones and retail chains – and even a central bank – here are the chiefs facing the most testing of times

Fortune

From AI reasoning to green fatigue: Fortune's bold predictions for Europe in 2025

Fortune's reporters, editors and contributors share their predictions for the year ahead, exploring shifts in AI, consumer behavior, fashion trends, and the evolving tenure of CEOs.

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International Business Times

Volkswagen Boss Hails Cost-cutting Deal But Shares Fall

Volkswagen's chief executive welcomed a deal to slash jobs and reduce production capacity in Germany without the need to close factories, but the car giant's shares fell heavily on Monday.

Latin Times

Volkswagen CEO's Speech to Workers Drowned Out By Boos After He Says Company 'Isn't Operating in a Fantasy World'

The carmaker has been in heated discussions with unions after announcing this fall that it would have to take drastic measures to cut costs

Fortune

Volkswagen CEO booed after saying he didn't live in a 'fantasy world': report

Volkswagen boss Oliver Blume was reportedly booed as he spoke about growing up in Wolfsburg, home to VW’s biggest factory.

International Business Times

From China Woes To EV Troubles, VW Faces Rocky Road

As Volkswagen seeks to push through a drastic restructuring with billions of euros in cuts, workers nationwide on Monday kicked off what could be a long wave of industrial action.

Motor1

Volkswagen Is Already Cutting Costs

In an interview with German newspaper Bild last month, Volkswagen CEO Oliver Blume was painfully honest about the automaker's delicate situation. He blamed "decades-long structural problems" for the lack of competitiveness, citing high labor costs as one of the main culprits. Massive layoffs, pay cuts, and even plant closures are looming…

Benzinga

Volkswagen Gets Much-Need Tech, Rivian A Cash Infusion With New JV

Volkswagen (OTC:VLKAF) has boosted its initial investment in American electrical vehicle (EV) maker Rivian (NASDAQ:RIVN) to $5.8 billion, $800 million more than initially planned.

International Business Times

Volkswagen And Rivian Launch Joint Venture Valued At $5.8 Billion

With this venture, the two companies plan to bring "best-in-class software technology" and "next-generation electrical architecture" for future electric vehicles of the companies. The deal will cover various kinds of vehicles, which would also include subcompact cars.

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