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The first VW Golf was sold in 1974 for the equivalent of 8 average net monthly salaries. The current Golf already costs 14 average monthly salaries. The VW ID.3 - Volkswagen's cheapest electric car - was launched 4 years late and cost 24 monthly salaries. Nobody in their right mind buys a small car for which they have to save a full 2 years salary. VW became big by making affordable small cars. If they have forgotten how to do that, what reason does the company have to exist?
I am afraid BMW appears to be the same. A base tesla model three , which comes with practically every extra , is thirty nine thousand nine hundred pound in the uk. The nearest equivalent bmw I could figure was over sixty nine thousand pounds. It's crazy.
90% of all new cars are not bought/owned they're a rolling business expense or HP. Nobody in their right mind buys a new car outright unless they like paying 10% more just to drive out the showroom.
Yeah my daughter's VW was on its second engine and warned by the mechanic that if she drove it she could get stranded. She traded it in on a Corolla Hybrid.
Quality gets you only so far before competitors catch up. Anyway Herbert Diess warned his board but they decided they didn't like his message and fired him.
I agree with you, I switch from a VW, which i still own to Kia in 2012, which was designed by German Engineers from the Audi VW group and built by Koreans, a decade later and the chinese are now doing the same.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
That Is 100% correct .people don't have the money,much tighter credit availability and rates are too high in contrast with wages that are nowhere keeping up with inflation and elevated insurance costs.
@@anemeth9281 one might say that also, but compared to Tesla it is still super high quality. But yeah, certainly Lexus and some others have better quality.
We have had 8 years where interest rates were near zero, some even below that. So they borrowed huge amounts for buying back shares, increasing Directors pay, paying dividends above normal and building plants to over-supply inventory. . Now they have to pay it back, in a market where there are is an over-supply of cars for sale.
And now they want the government to step in to help protect the market against competition and subsidise them to transition to 'electric car' company? Total nonsense... privatising profits, socialising risks... this way everyone can run a company.
Let me remain that 10 seats in the board of directors are saved for the workers and 2 for the local government - shouldn't really blame the Shareholders, which are actual minority...
Who would've thought that skyrocketing prices while plummeting reliability will turn off people.. P.S: The same spec Tiguan I bought in 2019 for ~32 000 EUR now costs ~55 000 EUR..
Here in Norway, VW are maybe 5-7% more expensive than say a Nio or BYD. I'd never take the risk of buying a Chinese brand - even a reputable one like BYD or Xpeng - for that kind of meager discount. With BYD, you still get good batteries but with anything else, you'll have a low-grade CATL, CALB, or EVE battery installed. I don't want that kind of uncertainty.
About 20 years ago I did a design review in Wolfsburg on Christmas Eve. We suggest paint and laser etching instead of two shot molding, I made the mistake to mention that BMW used paint and laser etch. Mr Muller turned and spat in the garbage can and said VW makes good cars, not like BMM. They had no interest in even looking at a lower cost process. Perhaps some of the problems stem from the stubborn aged engineering teams.
@@DonGivani so how Nordstream would have helped them. They lack demand in Europe for cars in comparison to 2019. Every carnaker is affected. Their EU division could have been subsidized by profits in China but these are falling fast
@@Marvellannexactly this. I was in the market for a few cars, including the Enyaq Coupe RS and ID.5 GTX In the end I bought a G6 Performance. No way these cars should cost 10k more and still have options to offer to match what XPeng has as standard.
I live in China and Golf is 18k USD:) btw and something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) only sell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
Partly, but it doesn't help when the Chinese Government makes it so much cheaper to buy Chinese branded cars with never ending company subsidies and Customer discounts. They've made it so any foreign Auto Maker cannot compete financially with the local makers, and even, as Viking states, allow Chinese brands to sell their cars at a loss, these activities are borderline illegal in world trade terms. The Europeans will soon hit back with crippling tariffs on Chinese cars as the US has done, they will have to, they can't sit back and allow their legacy Manufactures to go down the tubes, there will be major social and political consequences, the Unions have already started to push back on. Electric Viking has always been a bit disingenuous on this issue, implying that the major reason Chinese cars are dominating the Chinese market is because of their superiority, that may be partly the case, but a major part of it, is. that they are way cheaper.
Your all brain washed AI bots VW didn't go broke they were destroyed by your insane gov. who started a war with Russia to steal there oil and they lost.
Someone suicided Nordstream2 and stopped Germany from buying cheap resources from Russia while China started buying much more. This made Germany Industry uncompetitive.
I know that woman (Maria Angelina Alexander) If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
Does this not have huge parallels with British Leyland in the 70s? Everyone then thought that BMC was too big to fail but fundamentally the tide was just against them. Workers wanted more money, the company wanted to pay them less….. sounds familiar.
The thing is, VW still make quite okay-ish cars... just a bit overpriced, with features and qualities that slightly dwindling. Stellantis resembles British Leyland more... too many car brands that competes with each other, consolidation nightmare, and snobbish flamboyant management that refuses to take blame and push all the consequences to the labours.
lol first twitter now crytpo? I really want to like you Elon but man... investing in internet toxicity and electronic parasites all because of ... money. I dont blame ya, who doesnt want to be richER. *rolls eyes* People wasting their computational resources on crypto to farm a dollar wont get us to the stars man.. we need that CPU power for AI and warp drive. Common!
Their last chance was making changes as per Herbert Diess. But of course they fired him instead. EVs are causing them to fail. It's not only Teslas but all the Chinese manufacturers who have been encouraged to go NEV as fast as possible. 80% of all new vehicles will be BEVs by end of 2030. This will be purely on the economics alone. Let alone the benefit to the environment. That's 5 years away! They can't pay back $218b in 5 years.
Fun fact: in the last few years, Germany in particular and EU in general discussed about "de-growth" as a mechanism to reduce CO2 and pollution. Not sure how far such trends get traction. 😆
And yet our future chancellor (from the conservative party) claims that going EV was a big mistake and VW should focus on ICE instead. Germany is lost - stuck in the past.
@@oceanwave4502that is the death of civilisation. If governments actually want to cut emissions ,why do they keep importing so many people from other countries? You cannot stabilise emissions or consumption if numbers are everywhere rising. Let's face it, governments don't know what they are doing any more.
All production in Europe is expensive while gas is imported from the US, just the beginning, all manufacturing is leaving because of the price of energy.
But Russia has heaps of good cheap Gas , Oil , Uranium , Oh yeah thats right the US got rid of the legit Gov. in Ukraine to kick of the war then blew up there pipeline LOL ^ Then the WEF oh sorry the EU went green LOL What a set up . Keep up with your boosters , They are safe & effective Fauchy said so LOL
Strange things do happen in Germany. The one that provided cheap energy is called “Enemy”. The one that destroyed the flow of cheap energy is called “Friend”. The one that keeps helping her “Friend” to continue destroying her own country is called “Ursula Gertrud von der Leyen”.
BEFORE the war, labor cost was already high in Europe, compared to Asia. Now with the war and its consequences, it is like the final nail to EU's coffin.
AGE 72 HERE,, legacy Car companies are famous for not being able to adapt.. it has always been like this. I have seen it repeated over and over during my lifetime.
Nothing to do with not being able to adapt. Governments around the world have interfered in the free market of the motor industry with this insane ideological pursuit of net zero. Pointless arbitrary targets of “we must be driving/buying these cars by this date or else”, leads to this. It will get worse. No good ever comes from market interference like this and it never will.
@@nsweeney3970 Just flat wrong. I was born and raised in Michigan. Failure to adapt helped to begin the precipitous decline of the Big 3 when the oil crisis hit in the early 70s. Americans learned how well Japanese were made and started buying them. Net Zero did not exist at that time. The Japanese had high quality cars that filled a need, and Americans bought them. Detroit tried to adapt and did poorly. There are other reasons besides the oil crisis, but the Big 3 leadership failed miserably at a time of crisis (for them).
@@nsweeney3970 You are wrong on three fronts. Setting those targets are not "insane". The laws of physics will not change for rightwing polemics. Those targets were based on scientific estimates of warming trends if we didn't get off ICE. Tesla and Chinese EV companies are doing great precisely because they did focus on EVs rather than ICE. So your argument EVs are the problem doesn't wash. The problem is VW at the moment isn't competitive at producing EVs versus the competition not EVs that continue to gain marketshare from ICE. Every government in the world, for all of human history, has regulated and taxed. Completely unregulated markets have never existed in history other than in the minds of those that live in a Randroid fantasyland.
76 going on 77, "born in the USA", and I've watched the former Big Three fail to adapt in the worst possible ways. Federal government assistance was like bandaging the metastatizing tumors of a cancer patient. Now Intel is following the same path.
This is all self inflicted. I had a Mk8 GTi, the quality and build were so poor. The car had so many faults it was unreal. The GTi was replaced after 4 months and the replacement had just as many if not more faults. Poor paint, electronic issues everywhere, mechanical faults, quality of the materials in the cabin was so low. I got sick and tired of returning the car for constant issues. The best experience I had with the golf was handing back the keys and walking out of the dealership. VW products just aren’t good or desirable. Do not buy this rubbish.
I had a VW 1978, and it got all the same complaints, if not more problems than what you said in your comment. I have never looked back at VW since 1978 VW. But I'm surprised that they carry on that lousy treats and philosophy for their customers since .
I like your comment and everything you said is the truth! I have a VW and at 12 years old pretty much every part needs to be replaced even things like the horn, Windows and door locks stopped working. People don't buy a lot of VWs in the United States and its for good reasons!
betcha all the CEOs get their bonuses , they should be going to jail , misleading the share holders , we just got rid of one here in australia who was in charge of QANTAS , Alan Joyce , a criminal .
I have been working for VW as a technician for 26 years in Alberta Canada 🇨🇦 we have sold in the last year only 6 ID 4 . Jetta is not selling . The only sales are coming from the Atlas and last year they made the mistake to install a 4 cylinder turbo engine in a large SUV and that was the nail in the coffin . Customer simply don’t want a large suv with a 4 cylinder engine .
I liked how you used "idiots" on the video. You use so many facts 💯. And that is why makes the videos so good. And you give the message in a good easy way to understand
@@sammyhernandezpinto9018 claimed BYD selling at 20% below cost, where’s that data from? Makes no sense and simply pulled out of thin air. Don’t like misinformation.
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
Sounds like hell. Imagine a world where every car is made with horrid Chinese accents on it's Bluetooth connections, low build quality, and dangerous recycled batteries that easily set on fire. We are sleepwalking into a nightmare
You’re right , most of legacy automakers are gonna disappear, except Toyota , one pick up truck maker from US , luxury brands . Welcome to the reign of Tesla and the Chinese EV
Who else wants to hear Herbert's response to this!?!?! LOL I've left a company that soon went under because I left but this is on an entirely different level! He's got to be laughing his ass off!
@@sterlingarcher1962 Maybe he is, maybe he isn’t. If he really cared about the well being and success of the overall company, it’ll likely just be a reminder to him of the disappointment he would have felt when VAG went in a different direction.
If Germany's BEST strength (automotive) can't compete with others, what else could they offer to the table? Maybe software engineering? (beat India?) Or AI/Data Science? (beat America?) Or nuclear such as Thorium-based ractor or small modular reactor.. Oh well, just forget it!
@@anithakademani7122 Actually I visited russia and they buy nice chinese cars and probably drive better car than you:) something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) or Leapmotor only sell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
@@rais1953and in China even the VW’s are a lot cheaper in order to try and compete. The ID3 is £12.000 against £32,000 on the UK. Given that I think we should all look forward to the Chinese manufacturers arriving on masse.
Car companies do this on purpose-to close factories in Europe and open new ones in Asia, where they can produce more cheaply and increase profits. This is part of what globalism is all about, and we can expect to see more of this in the future
According to 2022 data, the Chinese market accounts for 44% of Volkswagen's global sales and 67% of its net profit. Europe, North America and other markets only provide 33% of the company's net profit. That's why Volkswagen is investing in Asia. By the way, 53% of BMW's net profit and 51% of Mercedes-Benz's net profit also come from the Chinese market. The Chinese market determines the fate of the German automotive industry. Similarly, 43% of Nissan, 30% of Honda, 21% of Toyota and 34% of Tesla's sales come from the Chinese market.
German goods have long been no longer associated in the eyes of the average person with any kind of quality. My third car was Japanese, after two German ones. The second German car was purchased in 2012, this is the worst purchase of my life. It was then that I told myself that any product with a tag made in Germany is synonymous with trash. Last week my friend bought a Chinese car, it looks like my fourth one will be Chinese too. Even funnier are the European politicians who, for the sake of Uncle Sam and his interests, spit on their own industry and population. Why did you ban the export of European cars to the Russian market? In the modern world, the struggle is for markets for products, and not for the opportunity to buy goods. I have no doubt that either the Germans have turned into idiots en masse over a couple of decades, or such conspiracy theories as the Chancellor Act are not conspiracy theories at all, but a fact.
The old ad quote "if only everything in life was as reliable as a Volkswagen" ran out of steam years ago when we all knew that Japanese cars were much more reliable. You can't fool the public forever with such false branding slogans. When the image goes it is dam hard to create a new one. The new leading brand images are with Tesla, Polestar and the Chinese invasion. This is where the public interest lies now. VW needs to go right back to the drawing board and start again. Making just an electric Golf won't work.
I've had a few VWs, 50s and 60s beetles and kombis - they were great! They've not really moved a lot in innovation since then though so I guess this was always going to happen. Same with most car makers - they sat around serving us the same stuff for decades and have now been well and truly overtaken.
In the 80’s they moved into China and started printing money so they didn’t bother with innovation. They sold them the Santana for almost 40 years! Obviously given that the Chinese took measures into their own hands and created some car companies. Now VW, and sadly the wider German economy, will pay the price for that arrogance.
A little point about the belgian facftory (my country): I don't think nobody wants to buy it, there are many chineses brands looking for it. It's a good and modern factory. BUT, they don't want to have to take it now, with all the workers and their very good salaries. Once everybody will be out, I'm sure we will see some offers for "the walls" and then I hope they will hire workers from scratch.
When Anna Baerbrock opens her mouth 😂😂 Porsche cars are way overpriced...well all of them are going berserk with their prices. China is showing the real world prices. 😂
Self inflicted crazy European demands Euro 7, high energy prices and EV wet dreams of something that cannot be delivered today it’s like hitting the self destruct button…
Tell that to those stupid extremists environmental bureaucrats in Brussels 😂😂😂😂 good luck with net zero when China current output of CO2 is well over 52% of world emissions (whenCO2 emissions in europe are below 8% )and it'll only be destined to increase when europe will import 100% of shitty EVs from china 😂😂😂😂😂 I wonder where the european consumers will find the money to buy them when they!ll be out of work cause manufacturing activities will be closed or moved away !! A de-industrialised europe will be a nightmare for 300 mil of European people! Europe needs a new generation of politicians and entrepreneurs but 2:40 in the meantime we must stop importing from china and SEA! We need to re-invent Europe for the next generations of europeans !
Expensive energy causing high production cost. Expensive energy causes other necessities to cost more, therefore a house household disposable income affected and car market affected. World economy is slow. Their biggest market is going EV. They are in trouble.
Investing billions of dollars in other companies when you're billions in debt is just mismanagement. It seems to me that they were afraid to miss the electric boat and started throwing money around in desperation. Now it all comes falling down.
The Chinese govt gathered all the automakers as far back as 2004 and told them that their policies will favour the development of ev,s. Only Tesla and the Chinese automakers took note. They can't claim that they did not have enough time to make the change.
High prices, poor ownership experiences, too, many models and brands and a poor effort on EVs... no wonder they are in trouble. Time to get back to basics on product and reliability. Looks like they will need to use XPENG tech to be EV competitive.
@ They are currently more of a niche offering… I do think they have a future, but it will take decades. To be frank TaaS will render these arguments moot anyway.
I've been a owner of golf mk1,mk2,mk3,mk4, passat b5, and now a 2020 polo . Still satisfied with this brand. I hope this brand stays alive. Such a legendary brand shouldn't dissappear like saab or lancia.
Good thing I didn't want an ID3. Nope, I wanted an E208 from day 1. Rawrr! Europe's top EV; it'll *still be there* for me to import to USA... Right? Oui Oui?
Workers at the BYD plant in China make less than $1k a month. How exactly are western countries supposed to compete with that? Keep in mind that is only at the factory that makes the cars. The factories that process the materials they pay even less. In some cases they literally use slave labor since the government rounded up over a million people for their religious beliefs and sent them to work camps. So who exactly are the greedy ones here? The people paying slave wages or the people paying their workers well?
Thanks for clarifying. Worth to mention is also the pressure on subcontractors from VW. Not all involved in production of car parts in germany have good conditions as employees of VW.
Blame them… but not for that. Blame them forcing Workers’ Councils down VW’s throat, blame them for allowing strong unions, blame them for giving workers strong strike rights, blame them for taxes and tariffs, blame them for owning a large share of VW’s stocks (and a larger share of the votes). Oh, and blame them for closing down nuclear power plants when they should have built many more. That would also have stopped the insane money flow to Russia and thus entirely prevented the Ukraine war.
I asked about that. Whatever it was, the whole story was swept under the carpet. Shortly before that, VW became #1 in the world. Of course the competition had to do something about it.
I live in China and something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) only seell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
Well, if they would stop screwing over their customer's, IE Diesel gate, then maybe they wouldn't be so bad. I had a Diesel VW and had TONS of problems with it right up to when they purchased it back from me. Their dealership was trying to blame ALL the problems on me. I had 2 of their vehicles and wouldn't have changed brands if it wasn't for the diesel gate issue. Now I will never go back to them.
If I was a union leader I wouldnt accept any of my workers get a pay cut or be fired either. The management stuffed up, not the workers. The workers have fulfilled there side of the employment contract. If they need to reduce costs, start by firing management and cutting management pay.
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
In Q3 2024, Volkswagen reported a profit after tax of approximately EUR 4.35 billion, which reflects a mixed quarter for the automotive giant. Volkswagen's Q3 2024 profit dropped over 40% compared to the same quarter in 2023.
Those EU countries that voted "yes" to the EV car tariffs either produced no cars or produced far fewer cars. This convinced everyone that this is to deindustrialize Germany. Not helping workers. It's political for politicians interest, rather than economy for people interest.
Good job. I feel sorry for the workers but not the people behind Dieselgate. Will be interesting to see how many other VW factories shut down, will Toyota be next?
We have an MG ES Trophy the build quality, performance, comfort and specifications are outstanding. It cost less than our previous Nissan Leaf connect which although not bad was nowhere near as good as the MG.
My VW Golf Mk8 kept beeping for no reason, faulty software to faulty steering wheel. It never got fixed properly. I'm not surprised their cost cutting has caught up with them.
Traveling to Germany for the World Cup, I was struck by how few VW EVs, or any other EVs, I saw. It’s still a too immature technology at too high a price for average people. The focus on zero to 60 times, luxury, and yet more tech gimmicks is the wrong approach for the entire industry. Henry Ford didn’t invent the automobile, he invented the cheap, reliable automobile. Build a cheap, reliable, easy to fuel up EV and they might have something.
in germany the mainstream thinks it is electric cars that produced the trouble. i dont think that only cimbustion cars could function in 2025 and later in this globalized world-
In Australia, the channel host’s home country, it will be all but imposed to buy a new petrol car in 2030. Only an utter idiot wants the inherent perpetual high petrol and engine maintenance bills.
@@audience2 The problem is Germans think car is just a piece of mechanics. Not intelligent car with infortainment/Chatbot (voice command...), autonomous capability (AI/Lidar), IoT (Internet of things with 5G), tons of sensors/camera...
Ten years ago, I worked at Volkswagen in China. Volkswagen is arguably the most recognized brand in China. Customers’ feedback was that they liked the Volkswagen brand and its high-quality vehicles, but the drawback was that the configurations did not match the price. At that time, people were willing to accept the situation of high price with basic configurations, because other brands were more or less the same. This continued until Chinese electric vehicles came into the spotlight. Nowadays, the development of electric vehicles in China cannot be separated from two factors: first, the operating costs are indeed significantly lower than those of fuel vehicles; second, the configurations of domestic electric vehicles are extremely attractive, often providing functions and materials that exceed expectations. I believe that it is difficult for traditional automotive companies to change now. They operate within a very mature, vast, but rigid cost framework, where even minor changes can have a huge impact on the entire supply chain. Currently, the only option for these automotive companies in China is to lower their prices and try to retain their existing market share. However, I don't think this can be sustained indefinitely.
I had a Golf 5 back in the day. I went to an authorized dealer/service to have my worn off faux leather shift knob replaced. They told me that they would need to replace THE ENTIRE shift assembly all the way to the actual gears. I said "oh F that, you and the entire VW group if that's your business plan". My whole experience with VW has been around the same lines from beginning to end. Mysterious computer glitches that can only be solved by completely replacing the processor chip that would cost thousands of Euros (a non-authorized mechanic solved it within minutes btw), scandals with blatant lies on emissions, etc. etc. In summary, corporate greed plain and simple. Moved to Renault right after. Best decision ever.
Wow, I love the look of the Scout compact pickup and SUV. That’s what Tesla needs more than anything, a compact pickup with the same styling that could be sold in every country in the world, and once you have the pickup, you could build the SUV variant on pretty much the same assembly line.
But we don't talk about this. It's a taboo topic. Imagine normal Europeans found out how devil the US is, this would put EU politicians in very difficult positions because they rely on the US for defense.
Perhaps Volkswagen should get Elon Musk to buy the company and bring it up to date. I don’t think that every part of the cars should be hand made by robots, but a92.5% robotised factory would certainly bring costs down.
I was just thinking whilst watching Sam’s video that there seem to be a lot of people in those factories. I imagine Tesla’s one down the road looks a lot different.
Watched a YT video of a Canadian visiting China, after it being over 10 years since last visit, to same 3 cities. He is mainly talking about cycling, but made a comment that 10 years ago, most cars were VW. Now very few around. Plus lots of E riding scooters (like a Vespa).
The German state will always save its beloved child, no matter what it costs and no matter whether it has put itself in this situation. The German citizen will once again have to bear the costs. Let's hope that Volkswagen finally focuses on electric cars.
You wrote it right, we need to give Volkswagen 500 billion euros so that they make cars that cost 100 thousand euros. At my job they promise to raise my salary 5 times next year and then I will receive 100 thousand euros a year and will be able to buy a car from Volkswagen.
At the beginning of the war when sanctions kicked in, German politicians thought of the possibility of getting rid of Russian energy in 5-10 years and started using Green energy. This was supposed to be "one stone (green transformation) kills two birds (Russian reliance + pollution/CO2). I laughed hard because the whole industry could just move to Green Tech, e.g. steel industry, and the whole world would wait patiently for Europe to do so? 😏
Nothing to do with Government. VW brought all those problems upon themselves by not moving forward on BEV technology, to which Herbert Dies knew how to go, however they fired him.
This is the first cut of the net zero lunacy. VW and many other manufacturers are being fined massively for producing ice cars that people want, while being forced to make EVs that most people dont want. The car manufacturers are a large part of Germany's economy , so closing 4 factories is going to be a big deal especially as the other car companies are also hurting from the EU's net zero obsession. As Germany is the largest economy and contributor to the EU, the EU is going to suffer for their policy faux pas, particularly if car companies in other countries are feeling the same pain.
I bought my first VW, GTI, in 2003 and the reliability was a disaster. The car was the shop every months for a major problem and every repair was over $800. The last problem was the transmission that went bad because VW lied that the oil does not need replacement and the cost to replace the transmission was over $11k I have been buying Toyota ever since and I am extremely happy. The last Toyota we bought was a hybrid Prius. The car is over 4 years old and never had a problem. Zero problem. So my answer to VW is that VW deserves to go out of business for the crappy car they sold me
It’s a crying shame. I used to have a Mk2 Golf GTi back n the day - fabulous hot hatch, brilliant quality. Had a Passat about 10 years ago, nowhere near as good. They’ve just gone downhill ever since.
@@backpackpepelon3867 There’s a handful of countries where the label might apply and Russia is one of them. Which country were you and your sock account thinking of?
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In Hingary we call them Foswagen (means: s**twagen) 😂
The first VW Golf was sold in 1974 for the equivalent of 8 average net monthly salaries. The current Golf already costs 14 average monthly salaries. The VW ID.3 - Volkswagen's cheapest electric car - was launched 4 years late and cost 24 monthly salaries. Nobody in their right mind buys a small car for which they have to save a full 2 years salary.
VW became big by making affordable small cars. If they have forgotten how to do that, what reason does the company have to exist?
Look at what an old air cooled Beetle cost, back in the 60's. Four months average US salary!
Yes u spot on people just can't afford them in current climate 😢😢
I am afraid BMW appears to be the same. A base tesla model three , which comes with practically every extra , is thirty nine thousand nine hundred pound in the uk. The nearest equivalent bmw I could figure was over sixty nine thousand pounds. It's crazy.
I never understood why people kept buying them considering how unreliable they are.
90% of all new cars are not bought/owned they're a rolling business expense or HP. Nobody in their right mind buys a new car outright unless they like paying 10% more just to drive out the showroom.
German automakers will still claim they're too good to make affordable vehicles, claiming their quality will carry them. Yeah good luck with that.
Yeah my daughter's VW was on its second engine and warned by the mechanic that if she drove it she could get stranded. She traded it in on a Corolla Hybrid.
If we look at German and Japanese companies, we realize that they mostly live with their glory past...
Quality gets you only so far before competitors catch up.
Anyway Herbert Diess warned his board but they decided they didn't like his message and fired him.
@@eish3291he was fired because he didn't deliver. Software issue was the main problem
I agree with you, I switch from a VW, which i still own to Kia in 2012, which was designed by German Engineers from the Audi VW group and built by Koreans, a decade later and the chinese are now doing the same.
I'm favoured only God knows how much I praise Him, $230k every 4weeks! I now have a big mansion and can now afford anything and also support God’s work and the church.
Only God knows how much grateful i am. After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
It's Ms. Evelyn Vera doing, she's changed my life.
I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Evelyn Vera, you're a miracle.
People are not buying their junk today and many people are broke and can't afford them.
That Is 100% correct .people don't have the money,much tighter credit availability and rates are too high in contrast with wages that are nowhere keeping up with inflation and elevated insurance costs.
But still people buy lowest quality cars a lot i.e. Tesla
@@mho0
VW is not quality either
@@anemeth9281 one might say that also, but compared to Tesla it is still super high quality. But yeah, certainly Lexus and some others have better quality.
We have had 8 years where interest rates were near zero, some even below that. So they borrowed huge amounts for buying back shares, increasing Directors pay, paying dividends above normal and building plants to over-supply inventory. . Now they have to pay it back, in a market where there are is an over-supply of cars for sale.
And now they want the government to step in to help protect the market against competition and subsidise them to transition to 'electric car' company? Total nonsense... privatising profits, socialising risks... this way everyone can run a company.
Let me remain that 10 seats in the board of directors are saved for the workers and 2 for the local government - shouldn't really blame the Shareholders, which are actual minority...
And don't forget paying union based employees salary increases for no additional output in productivity. Bit like our railway unions here in the UK.
@@K22MDLyes, because inflation doesn't exist.
People
Is this actually factual or are you just saying this because it’s what you think
Who would've thought that skyrocketing prices while plummeting reliability will turn off people..
P.S: The same spec Tiguan I bought in 2019 for ~32 000 EUR now costs ~55 000 EUR..
The new golf R is 83.000 euro in my country lol.
For a freaking golf, the 'peoples car', uhu.
The Consumer is done paying stupid prices for stupid cars
Here in Norway, VW are maybe 5-7% more expensive than say a Nio or BYD. I'd never take the risk of buying a Chinese brand - even a reputable one like BYD or Xpeng - for that kind of meager discount. With BYD, you still get good batteries but with anything else, you'll have a low-grade CATL, CALB, or EVE battery installed. I don't want that kind of uncertainty.
🐸🐸🐸@@weerolein🐸🐸🐸Childish🤣🤣🤣
@@weerolein🤣🤣🤣 National Security Threat / OverCapacity AKA Don't want Competition 🤣🤣🤣 Typical Western Childish Narrow Mindset 🤣🤣🤣
@@williamwongkimping3998 I am not 100% certain what you mean but prices of BYDs are extremely high here, compared to European car makes.
is there tariffs? byd do not have a factoryvin Europe@@weerolein
About 20 years ago I did a design review in Wolfsburg on Christmas Eve. We suggest paint and laser etching instead of two shot molding, I made the mistake to mention that BMW used paint and laser etch. Mr Muller turned and spat in the garbage can and said VW makes good cars, not like BMM. They had no interest in even looking at a lower cost process. Perhaps some of the problems stem from the stubborn aged engineering teams.
It’s always so interesting to hear from the person who was on the inside. Thank you!
That is true the age of Ingenieurs give them stubbornness
Typical German stubbornness
wr, outx, can outx etc any nmw s perfx
@glenmcneil1675 emblems?
They should never have sacked Herbert Diess. He knew what was needed. That was the end of VW right there.
😂 That's BS, the reason is that Americans destroyed Nordstream. Don't think Diess could have prevented that
Self exploding Nord stream 2 natural gas pipeline and stopping cheap Russian gas imports killed German industry
@@DonGivani so how Nordstream would have helped them. They lack demand in Europe for cars in comparison to 2019. Every carnaker is affected. Their EU division could have been subsidized by profits in China but these are falling fast
@user-nh1yb9mk7y Nordstream is the reason why German companies pay much more for energy to produce things RIGHT NOW, and cannot lower overhead
@@DonGivani and how did nonactive gaspipe getting blown up affect energy prices ?
Sell more golfs at 70k 🤣
and Enyaqs for €65k 😂
@@Marvellannexactly this.
I was in the market for a few cars, including the Enyaq Coupe RS and ID.5 GTX
In the end I bought a G6 Performance. No way these cars should cost 10k more and still have options to offer to match what XPeng has as standard.
L😂L
I live in China and Golf is 18k USD:) btw and something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) only sell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
Their cars are expensive as hell to maintain. They put a hole in your pocket.
This is the real reason they will go broke. People wise up.
Ues, that's why ordinary wose folks go for Kia instead. I have the 2008 kia ceed, and it's almost 300k km, and never have problem with it.
@@markrobby7136yes, switching to KIA was our best move ever. even the sales team are great
Once Elon Musk's xAI42x passes $1, it may NEVER see that low again
I'm excited to see how xAI unfolds. Self interest meets good outcome.. indeed..
xAI haha the fomo is real
Enjoy the bullsht grift
my fam is from Congo, we hate Teslas, you know wat elon did in Afrika, I want to drive a moral car, not an apartheid nazi fascist car.
They brought it onto themselves
Partly, but it doesn't help when the Chinese Government makes it so much cheaper to buy Chinese branded cars with never ending company subsidies and Customer discounts.
They've made it so any foreign Auto Maker cannot compete financially with the local makers, and even, as Viking states, allow Chinese brands to sell their cars at a loss, these activities are borderline illegal in world trade terms.
The Europeans will soon hit back with crippling tariffs on Chinese cars as the US has done, they will have to, they can't sit back and allow their legacy Manufactures to go down the tubes, there will be major social and political consequences, the Unions have already started to push back on.
Electric Viking has always been a bit disingenuous on this issue, implying that the major reason Chinese cars are dominating the Chinese market is because of their superiority, that may be partly the case, but a major part of it, is. that they are way cheaper.
Your all brain washed AI bots VW didn't go broke they were destroyed by your insane gov. who started a war with Russia to steal there oil and they lost.
No, this is all thx to government carrying out the demands of the globalist WEF..
They shouldn't have listened to the European Union and moved out of Russia
Someone suicided Nordstream2 and stopped Germany from buying cheap resources from Russia while China started buying much more. This made Germany Industry uncompetitive.
*I'm glad you made this video,* it reminds me of my transformation from a nobody to good home, $89k biweekly and a good daughter full of love..
Please how ?
It's Maria Angelina Alexander doing she's changed my life. A BROKER- like her is what you need.
$356K monthly is something you should feel differently about....
Lovely! I enjoyed it like I enjoy a $100k monthly around the turn!!!
I know that woman (Maria Angelina Alexander)
If you were born and raised in new York you'd know too, she's my family's Broker for 3yrs till now and a very good one if you asked me. No doubt she is the one that helped you get where you are!!!!
Does this not have huge parallels with British Leyland in the 70s? Everyone then thought that BMC was too big to fail but fundamentally the tide was just against them. Workers wanted more money, the company wanted to pay them less….. sounds familiar.
The thing is, VW still make quite okay-ish cars... just a bit overpriced, with features and qualities that slightly dwindling.
Stellantis resembles British Leyland more... too many car brands that competes with each other, consolidation nightmare, and snobbish flamboyant management that refuses to take blame and push all the consequences to the labours.
No they rejected cheap energy. Not rocket science
Nothing like British Leyland, who were a nationalised concern full of unhelpful unions and shoddy workmanship
This is how companies fail, slowly at first, then very quickly. Sad to see this happening.
I’m not sad. How many people died prematurely due to Audi’s cheat software.
Just like Kodak,Nokia,Ericsson,Blackberry,Toshiba etc😮😢
@it wasn’t Audis, it was an industry problem. And to answer the question - probably 0, the emissions drive is all BS.
No it’s not sad to see, build poor products at over inflated prices and this is what happens.
@@user-yu1rf6br1y lol 😂😂😂
Bought xAI42x after watching your video, super excited!
I Can’t believe i almost missed this, Appreciate the quick update my man!
lol first twitter now crytpo? I really want to like you Elon but man... investing in internet toxicity and electronic parasites all because of ... money. I dont blame ya, who doesnt want to be richER. *rolls eyes* People wasting their computational resources on crypto to farm a dollar wont get us to the stars man.. we need that CPU power for AI and warp drive. Common!
*Scam alert!*
Their last chance was making changes as per Herbert Diess. But of course they fired him instead. EVs are causing them to fail. It's not only Teslas but all the Chinese manufacturers who have been encouraged to go NEV as fast as possible. 80% of all new vehicles will be BEVs by end of 2030. This will be purely on the economics alone. Let alone the benefit to the environment. That's 5 years away! They can't pay back $218b in 5 years.
Fun fact: in the last few years, Germany in particular and EU in general discussed about "de-growth" as a mechanism to reduce CO2 and pollution. Not sure how far such trends get traction. 😆
VW didn't go broke they were destroyed by your insane gov. who started a war with Russia to steal there oil and they lost.
wr
And yet our future chancellor (from the conservative party) claims that going EV was a big mistake and VW should focus on ICE instead. Germany is lost - stuck in the past.
@@oceanwave4502that is the death of civilisation. If governments actually want to cut emissions ,why do they keep importing so many people from other countries? You cannot stabilise emissions or consumption if numbers are everywhere rising.
Let's face it, governments don't know what they are doing any more.
All production in Europe is expensive while gas is imported from the US, just the beginning, all manufacturing is leaving because of the price of energy.
This they have to say thank you to their "allies/friends" the USA for bombing the Nord Stream II.
But Russia has heaps of good cheap Gas , Oil , Uranium , Oh yeah thats right the US got rid of the legit Gov. in Ukraine to kick of the war then blew up there pipeline LOL ^ Then the WEF oh sorry the EU went green LOL What a set up . Keep up with your boosters , They are safe & effective Fauchy said so LOL
Strange things do happen in Germany.
The one that provided cheap energy is called “Enemy”.
The one that destroyed the flow of cheap energy is called “Friend”.
The one that keeps helping her “Friend” to continue destroying her own country is called “Ursula Gertrud von der Leyen”.
BEFORE the war, labor cost was already high in Europe, compared to Asia. Now with the war and its consequences, it is like the final nail to EU's coffin.
@@happymelon7129 It's just part of Russia's masterplan...
AGE 72 HERE,, legacy Car companies are famous for not being able to adapt.. it has always been like this. I have seen it repeated over and over during my lifetime.
Older . . . and agree.
Nothing to do with not being able to adapt. Governments around the world have interfered in the free market of the motor industry with this insane ideological pursuit of net zero. Pointless arbitrary targets of “we must be driving/buying these cars by this date or else”, leads to this. It will get worse. No good ever comes from market interference like this and it never will.
@@nsweeney3970 Just flat wrong. I was born and raised in Michigan. Failure to adapt helped to begin the precipitous decline of the Big 3 when the oil crisis hit in the early 70s. Americans learned how well Japanese were made and started buying them. Net Zero did not exist at that time. The Japanese had high quality cars that filled a need, and Americans bought them. Detroit tried to adapt and did poorly. There are other reasons besides the oil crisis, but the Big 3 leadership failed miserably at a time of crisis (for them).
@@nsweeney3970 You are wrong on three fronts.
Setting those targets are not "insane". The laws of physics will not change for rightwing polemics. Those targets were based on scientific estimates of warming trends if we didn't get off ICE.
Tesla and Chinese EV companies are doing great precisely because they did focus on EVs rather than ICE. So your argument EVs are the problem doesn't wash. The problem is VW at the moment isn't competitive at producing EVs versus the competition not EVs that continue to gain marketshare from ICE.
Every government in the world, for all of human history, has regulated and taxed. Completely unregulated markets have never existed in history other than in the minds of those that live in a Randroid fantasyland.
76 going on 77, "born in the USA", and I've watched the former Big Three fail to adapt in the worst possible ways. Federal government assistance was like bandaging the metastatizing tumors of a cancer patient. Now Intel is following the same path.
It sounds like the entire building has burned down not just the roof
Yep L😅L L🔥L 🔥🔥🔥
it will get worse as potential buyers now will think twice before buying any VW cars of ANY MAKE.
There is no hope for this company is my opinion.
This is all self inflicted. I had a Mk8 GTi, the quality and build were so poor. The car had so many faults it was unreal. The GTi was replaced after 4 months and the replacement had just as many if not more faults. Poor paint, electronic issues everywhere, mechanical faults, quality of the materials in the cabin was so low. I got sick and tired of returning the car for constant issues. The best experience I had with the golf was handing back the keys and walking out of the dealership.
VW products just aren’t good or desirable. Do not buy this rubbish.
I had a VW 1978, and it got all the same complaints, if not more problems than what you said in your comment.
I have never looked back at VW since 1978 VW.
But I'm surprised that they carry on that lousy treats and philosophy for their customers since .
I like your comment and everything you said is the truth! I have a VW and at 12 years old pretty much every part needs to be replaced even things like the horn, Windows and door locks stopped working. People don't buy a lot of VWs in the United States and its for good reasons!
@ both mine were brand new from the factory and complete garbage.
@@bh2155 " People don't buy a lot of VWs in the United States and its for good reasons!" build in the US from american workers with american parts 🙂
betcha all the CEOs get their bonuses , they should be going to jail , misleading the share holders , we just got rid of one here in australia who was in charge of QANTAS , Alan Joyce , a criminal .
I have been working for VW as a technician for 26 years in Alberta Canada 🇨🇦 we have sold in the last year only 6 ID 4 . Jetta is not selling . The only sales are coming from the Atlas and last year they made the mistake to install a 4 cylinder turbo engine in a large SUV and that was the nail in the coffin . Customer simply don’t want a large suv with a 4 cylinder engine .
I liked how you used "idiots" on the video. You use so many facts 💯. And that is why makes the videos so good. And you give the message in a good easy way to understand
@@sammyhernandezpinto9018 claimed BYD selling at 20% below cost, where’s that data from? Makes no sense and simply pulled out of thin air. Don’t like misinformation.
Refetences to "facts" are essential, otherwise they mean nothing. I spotted a few "errors".
Fantastic video🔥🔥! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong??
Trading on a demo account can definitely feel similar to the real market, but there are some differences. It's important to remember that trading involves risks and it's normal to face looses sometimes. One piece of advice is to start small and gradually increase your investments as you gain more experience and confidence. It might also be helpful to seek guidance from experienced traders or do some research on different trading strategies.
If you are trading without a professional guide... Ah, I laugh, because you will stay where you are or even suffer huge losses that will prevent you from trading, this has been one of the biggest problems for new traders.
I think l'm blessed if not I wouldn't have met someone who is as spectacular as expert mrs Fenella..
Highly recommended
Wow, I'm surprised to see Fenella mentioned here as well. I didn't know she had been kind to so many people
I'm also a huge beneficiary of her..
I thought myself and my family were
the only ones enjoying Fenella
trade benefits
Chinese EV manufacturers will own the industry by 2030. Tesla will be the exception. They cannot turn this. 😢
Sounds like hell. Imagine a world where every car is made with horrid Chinese accents on it's Bluetooth connections, low build quality, and dangerous recycled batteries that easily set on fire.
We are sleepwalking into a nightmare
@@ommanomnom Wake up, friend🤣🤣🤣
@@ommanomnom😂more moan more! SB🧠💦🚮 indeed imagine overpaid cay user with ultra low quality western made 🚗 mostly
@@vincentcheng7313 Da bruutoo davice Haz been connercturd successsfurry!!!!
You’re right , most of legacy automakers are gonna disappear, except Toyota , one pick up truck maker from US , luxury brands .
Welcome to the reign of Tesla and the Chinese EV
Who else wants to hear Herbert's response to this!?!?! LOL
I've left a company that soon went under because I left but this is on an entirely different level! He's got to be laughing his ass off!
@@sterlingarcher1962
Maybe he is, maybe he isn’t. If he really cared about the well being and success of the overall company, it’ll likely just be a reminder to him of the disappointment he would have felt when VAG went in a different direction.
VW should start turning the closed factories into museums. Some of their laid off workers could get jobs there.
Can VW make money and pay unions with museums?
That ACTUALLY is a pretty good idea ^^
😂😂😂
If Germany's BEST strength (automotive) can't compete with others, what else could they offer to the table? Maybe software engineering? (beat India?) Or AI/Data Science? (beat America?) Or nuclear such as Thorium-based ractor or small modular reactor.. Oh well, just forget it!
Saussage
good Hi from Russia enjoy
Enjoy with ur gaz and lada😂
@@anithakademani7122 Actually I visited russia and they buy nice chinese cars and probably drive better car than you:) something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) or Leapmotor only sell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
They're selling Škoda Enyaq with ~300km range for €65k. I can buy a Tesla with ~500km range for €34k.
Not everyone wants a Tesla, they are just too common now. I wouldn't have one.
In Australia some of the Chinese EVs are even cheaper. They look very nice, apparently well made and they're well equipped.
@@StephenButlerOneso your saying you’d be happy paying twice the price not to have a Tesla.
@@rais1953and in China even the VW’s are a lot cheaper in order to try and compete. The ID3 is £12.000 against £32,000 on the UK. Given that I think we should all look forward to the Chinese manufacturers arriving on masse.
I'd rather buy a Chinese EV that's well spec'd
I'm favoured, $150K every week! I can now give back to the locals in my community and also support God works and the church. God bless American 🇺🇸,
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
How..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
She’s a licensed broker here in the states
YES!!! That's exactly her name (Ms stephanie anne) so many people have recommended highly about her and am just starting with her 😊 from United States
I know this woman you just mentioned. She’s really good with and on her job. She’s helped a couple of families and individuals' finances
Car companies do this on purpose-to close factories in Europe and open new ones in Asia, where they can produce more cheaply and increase profits. This is part of what globalism is all about, and we can expect to see more of this in the future
true but not in this case
According to 2022 data, the Chinese market accounts for 44% of Volkswagen's global sales and 67% of its net profit.
Europe, North America and other markets only provide 33% of the company's net profit.
That's why Volkswagen is investing in Asia.
By the way, 53% of BMW's net profit and 51% of Mercedes-Benz's net profit also come from the Chinese market.
The Chinese market determines the fate of the German automotive industry.
Similarly, 43% of Nissan, 30% of Honda, 21% of Toyota and 34% of Tesla's sales come from the Chinese market.
No more cheap Russian gas, cheaper Chinese cars, Chinese and Russian markets closed, the America is getting great again
German goods have long been no longer associated in the eyes of the average person with any kind of quality. My third car was Japanese, after two German ones. The second German car was purchased in 2012, this is the worst purchase of my life. It was then that I told myself that any product with a tag made in Germany is synonymous with trash. Last week my friend bought a Chinese car, it looks like my fourth one will be Chinese too. Even funnier are the European politicians who, for the sake of Uncle Sam and his interests, spit on their own industry and population. Why did you ban the export of European cars to the Russian market? In the modern world, the struggle is for markets for products, and not for the opportunity to buy goods. I have no doubt that either the Germans have turned into idiots en masse over a couple of decades, or such conspiracy theories as the Chancellor Act are not conspiracy theories at all, but a fact.
The old ad quote "if only everything in life was as reliable as a Volkswagen" ran out of steam years ago when we all knew that Japanese cars were much more reliable. You can't fool the public forever with such false branding slogans. When the image goes it is dam hard to create a new one. The new leading brand images are with Tesla, Polestar and the Chinese invasion. This is where the public interest lies now. VW needs to go right back to the drawing board and start again. Making just an electric Golf won't work.
I've had a few VWs, 50s and 60s beetles and kombis - they were great! They've not really moved a lot in innovation since then though so I guess this was always going to happen. Same with most car makers - they sat around serving us the same stuff for decades and have now been well and truly overtaken.
You have it backwards.
In the 80’s they moved into China and started printing money so they didn’t bother with innovation. They sold them the Santana for almost 40 years! Obviously given that the Chinese took measures into their own hands and created some car companies. Now VW, and sadly the wider German economy, will pay the price for that arrogance.
I'll still get a new Karmann Ghia if they ever make one!
They are good at ice although a bit expensive but bad at ev’s and software so the Chinese don’t want them.
Don't agree. Take a 1960 Beetle and a 2003 Audi A4.
World of difference. But after 2003 the decline set in.
A little point about the belgian facftory (my country): I don't think nobody wants to buy it, there are many chineses brands looking for it. It's a good and modern factory.
BUT, they don't want to have to take it now, with all the workers and their very good salaries. Once everybody will be out, I'm sure we will see some offers for "the walls" and then I hope they will hire workers from scratch.
Their plan is to fill it with robot workers. No wage packages, No strikes and they work 24 hours.
" workers and their very good salaries." At least 25% higher than Tesla salaries....but another race to the bottom is not the solution
When Anna Baerbrock opens her mouth 😂😂
Porsche cars are way overpriced...well all of them are going berserk with their prices.
China is showing the real world prices. 😂
Not after added taxes sadly.
I think China has the capacity to produce virtually most things we need as human EFFICIENTLY.
I am looking forward to buying my first Chinese built car in the near future. I will no longer be taken as a fool by Western automakers high prices.
wrr, outx, can outx etc any nmw s perfx
I think it's got to a point that new cars have become too expensive for the average person.
Self inflicted crazy European demands Euro 7, high energy prices and EV wet dreams of something that cannot be delivered today it’s like hitting the self destruct button…
Tell that to those stupid extremists environmental bureaucrats in Brussels 😂😂😂😂 good luck with net zero when China current output of CO2 is well over 52% of world emissions (whenCO2 emissions in europe are below 8% )and it'll only be destined to increase when europe will import 100% of shitty EVs from china 😂😂😂😂😂 I wonder where the european consumers will find the money to buy them when they!ll be out of work cause manufacturing activities will be closed or moved away !! A de-industrialised europe will be a nightmare for 300 mil of European people! Europe needs a new generation of politicians and entrepreneurs but 2:40 in the meantime we must stop importing from china and SEA! We need to re-invent Europe for the next generations of europeans !
Their biggest mistake was getting rid of Diess.
True
Many people dont even care about quality as long as their car is reliable and economical to own
But that is what quality means. Did you intend to write “luxury”?
@@peterfireflylund 👍
Expensive energy causing high production cost. Expensive energy causes other necessities to cost more, therefore a house household disposable income affected and car market affected. World economy is slow. Their biggest market is going EV. They are in trouble.
Tesla has also a factory in Germany. Seems to run.
How are they investing 5billion in Rivian when this is happening
Keep making EVs....you will be all right ✅️ 👌 💯 💪 👍
Investing billions of dollars in other companies when you're billions in debt is just mismanagement. It seems to me that they were afraid to miss the electric boat and started throwing money around in desperation. Now it all comes falling down.
The Chinese govt gathered all the automakers as far back as 2004 and told them that their policies will favour the development of ev,s. Only Tesla and the Chinese automakers took note. They can't claim that they did not have enough time to make the change.
They dumped a ton into a battery company called qutam scape QS ticker... and it's been a huge dud...stock went from 80 ish to like 5 dollars.
Should have followed Toyotas lead.
High prices, poor ownership experiences, too, many models and brands and a poor effort on EVs... no wonder they are in trouble. Time to get back to basics on product and reliability. Looks like they will need to use XPENG tech to be EV competitive.
EV's have no future...
@ They are currently more of a niche offering… I do think they have a future, but it will take decades. To be frank TaaS will render these arguments moot anyway.
I'm delighted for them after Dieselgate. Justice.....
Deiselgate and monkey gate, very poor after sales , karmic justice
Like WireCard back then, those German CEOs spent a huge chunk of their energies on... cheating, rather than innovating.
I've been a owner of golf mk1,mk2,mk3,mk4, passat b5, and now a 2020 polo . Still satisfied with this brand. I hope this brand stays alive. Such a legendary brand shouldn't dissappear like saab or lancia.
Good thing I didn't want an ID3. Nope, I wanted an E208 from day 1. Rawrr!
Europe's top EV; it'll *still be there* for me to import to USA... Right? Oui Oui?
(Nonresidents can drive any car in US for 1 year).
Stalantis is just as bad as VAG, so let's not count our chickens.
There greed , bad attitude n Ego finishes Western n Europeans
Yes they are greedy, egoistic and blind.
Workers at the BYD plant in China make less than $1k a month. How exactly are western countries supposed to compete with that? Keep in mind that is only at the factory that makes the cars. The factories that process the materials they pay even less. In some cases they literally use slave labor since the government rounded up over a million people for their religious beliefs and sent them to work camps. So who exactly are the greedy ones here? The people paying slave wages or the people paying their workers well?
Thanks for clarifying. Worth to mention is also the pressure on subcontractors from VW. Not all involved in production of car parts in germany have good conditions as employees of VW.
blame the politicians. first they cut their biggest energy suppliers. second they ruined relation with their biggest customer. perfect chaos 👍
VW didn't go broke they were destroyed by your insane gov. who started a war with Russia to steal there oil and they lost.
wr
Politicians ? What the hell have they got to do with VW failing to invest in EV technology?
Politicians ? What the hell have they got to do with VW failing to invest in EV technology?
Blame them… but not for that. Blame them forcing Workers’ Councils down VW’s throat, blame them for allowing strong unions, blame them for giving workers strong strike rights, blame them for taxes and tariffs, blame them for owning a large share of VW’s stocks (and a larger share of the votes).
Oh, and blame them for closing down nuclear power plants when they should have built many more. That would also have stopped the insane money flow to Russia and thus entirely prevented the Ukraine war.
Bye bye VW,buyers did not forget the smog scam you pulled a few years back.
I asked about that. Whatever it was, the whole story was swept under the carpet. Shortly before that, VW became #1 in the world. Of course the competition had to do something about it.
My short position on VW grows, grows, and grows 👌
I live in China and something Viking wont' tell you: PHEVs are the king. Not everyone wants EV and chinese companies adjusted their offer, for example BYD offers every model as EV or PHEV. Most new brands like Li auto or Aito(Huawei) only seell EREV which are long range PHESs. No any western brands is offering EREV car, that's why they die.
Well, if they would stop screwing over their customer's, IE Diesel gate, then maybe they wouldn't be so bad. I had a Diesel VW and had TONS of problems with it right up to when they purchased it back from me. Their dealership was trying to blame ALL the problems on me. I had 2 of their vehicles and wouldn't have changed brands if it wasn't for the diesel gate issue. Now I will never go back to them.
No need to apologize for bringing up the genius of our lifetime.
If I was a union leader I wouldnt accept any of my workers get a pay cut or be fired either. The management stuffed up, not the workers. The workers have fulfilled there side of the employment contract. If they need to reduce costs, start by firing management and cutting management pay.
Fire the government
Morning bro XPeng P7+ Driven - The First XPeng With Vision-only ADAS
Inside China Auto
A 40% fall in profits still means you are making a profit. A statement that no BEV maker with the exception of Tesla can make.
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
Tesla has no profits. All their profit figures are a scam. Tesla is being pumped full of money to kill other car makers - this is the plan of the very rich who have bet on this and their goal is to create a world monopoly like Amazon, Alphabet, Microsoft, Nvidia, ..
I bet there’re making it on their ICE cars not their BEVs tho.
Tesla relies on their China plant and their cyberturd is a failure.
Lets build some nice diesels again.
Profit After Tax: EUR8.9 billion, 31% decline, not 42%
In Q3 2024, Volkswagen reported a profit after tax of approximately EUR 4.35 billion, which reflects a mixed quarter for the automotive giant. Volkswagen's Q3 2024 profit dropped over 40% compared to the same quarter in 2023.
Exactly. They’re still making profit. just making less money than before. All these hysterical headlines are making it like it’s already collapsing.
@@lluow VW produced those headlines themselves because they want to get rid of Europe and solely focus on the asian market.
@@MaxWolf-s9y Adjust for inflation and the drop is closer to 50%.
No it Where's the money coming for the bond holders to hold that debt? That's a subsidy. I don't think so at that price
Those EU countries that voted "yes" to the EV car tariffs either produced no cars or produced far fewer cars.
This convinced everyone that this is to deindustrialize Germany.
Not helping workers.
It's political for politicians interest, rather than economy for people interest.
The WEF do not want us to own cars. What better way than to ruin the industry 😮😮
It's political for politicians interest, rather than economy for people interest.
I do not envy VW's position, good luck to the German auto industry.
why buy these cars when China just released a load of cars that are just plain better in all aspects :)
Good job. I feel sorry for the workers but not the people behind Dieselgate. Will be interesting to see how many other VW factories shut down, will Toyota be next?
Bye bye Nord Stream, bye bye, BASF, bye bye VW, bye bye Germany.
We have an MG ES Trophy the build quality, performance, comfort and specifications are outstanding. It cost less than our previous Nissan Leaf connect which although not bad was nowhere near as good as the MG.
polo starting at 20k euros. that's what's sick.
My VW Golf Mk8 kept beeping for no reason, faulty software to faulty steering wheel. It never got fixed properly. I'm not surprised their cost cutting has caught up with them.
Sam you told us over 2 years ago. Deiss told them 4 years ago.
Yep
Traveling to Germany for the World Cup, I was struck by how few VW EVs, or any other EVs, I saw. It’s still a too immature technology at too high a price for average people. The focus on zero to 60 times, luxury, and yet more tech gimmicks is the wrong approach for the entire industry.
Henry Ford didn’t invent the automobile, he invented the cheap, reliable automobile. Build a cheap, reliable, easy to fuel up EV and they might have something.
in germany the mainstream thinks it is electric cars that produced the trouble. i dont think that only cimbustion cars could function in 2025 and later in this globalized world-
I mean it is, volkswagen just didn't adapt properly
In Australia, the channel host’s home country, it will be all but imposed to buy a new petrol car in 2030. Only an utter idiot wants the inherent perpetual high petrol and engine maintenance bills.
That’s a bit like saying for Nokia the problem was those touch screens, if only everyone had stuck with buttons things would have been fine.
@@zSionthey could of adapted pretty well under Herbert but they didn’t like the look of the future. Strangely the future is still coming 😂
@jasonmugridge hehehe....yes. but here in germany is a real trend back to combustion..... like in kindergarten
We're Lovin it....
German EVs are too expensive. They’re dragging too much dead wood.
Sam, I jumped ship from the VW brand three years ago. Quality ICE cars, but no foresight and multiple scandals over a long period of time.
VW had to invest. They need to completely refit all their factories.
They don’t know how.
They don't have the software expertise. They don't have the hardware expertise.
@@audience2 The problem is Germans think car is just a piece of mechanics. Not intelligent car with infortainment/Chatbot (voice command...), autonomous capability (AI/Lidar), IoT (Internet of things with 5G), tons of sensors/camera...
It serves them right. There’s no room for crooked companies like theirs.
😮everyday more and more people are talking about BYD 😮😊😊
Yes, more people talk about Bury Your Dead (BYD).
BYD are kinda good
@@とふこ No.
How can Germans' 4-day workweek compete with Chinese's 996? I know this is an extreme example, but you get the big picture.
Luxury automated socialism 😉luxury for ALL 😊🇨🇳
Ten years ago, I worked at Volkswagen in China. Volkswagen is arguably the most recognized brand in China. Customers’ feedback was that they liked the Volkswagen brand and its high-quality vehicles, but the drawback was that the configurations did not match the price. At that time, people were willing to accept the situation of high price with basic configurations, because other brands were more or less the same. This continued until Chinese electric vehicles came into the spotlight. Nowadays, the development of electric vehicles in China cannot be separated from two factors: first, the operating costs are indeed significantly lower than those of fuel vehicles; second, the configurations of domestic electric vehicles are extremely attractive, often providing functions and materials that exceed expectations.
I believe that it is difficult for traditional automotive companies to change now. They operate within a very mature, vast, but rigid cost framework, where even minor changes can have a huge impact on the entire supply chain. Currently, the only option for these automotive companies in China is to lower their prices and try to retain their existing market share. However, I don't think this can be sustained indefinitely.
I had a Golf 5 back in the day. I went to an authorized dealer/service to have my worn off faux leather shift knob replaced. They told me that they would need to replace THE ENTIRE shift assembly all the way to the actual gears. I said "oh F that, you and the entire VW group if that's your business plan". My whole experience with VW has been around the same lines from beginning to end. Mysterious computer glitches that can only be solved by completely replacing the processor chip that would cost thousands of Euros (a non-authorized mechanic solved it within minutes btw), scandals with blatant lies on emissions, etc. etc. In summary, corporate greed plain and simple. Moved to Renault right after. Best decision ever.
you moved to Renault.... Brave man!
If VW were cheating on emissions then I would be sure they all were. VW just got caught.
@@farmerpete6274
Yes, because Renault is shit and VW is good, right?? 😂😂😂😂
Wow, I love the look of the Scout compact pickup and SUV. That’s what Tesla needs more than anything, a compact pickup with the same styling that could be sold in every country in the world, and once you have the pickup, you could build the SUV variant on pretty much the same assembly line.
Volkswagen jumped on the EV bandwagon and it backfired.
Who The Frunk wants an electric bandwagon?❤
They had no choice. ICE cars out by set deadlines - and they mean it!
The Chinese want ev’s, vw sucks at making them but the fault is vw jumping on ev’s 😂 🤦♂️
@@santostv. They have no choice. ICE ban coming soon.
Good analysis, thank you 👍
Glad you liked it!
That's what happens when you blow up your own pipeline.
LOL. Yes, one of the causes.
The US kacked it. Quid Pro Quo, Germany now has to buy its blast furnace fuel from the US.
But we don't talk about this. It's a taboo topic. Imagine normal Europeans found out how devil the US is, this would put EU politicians in very difficult positions because they rely on the US for defense.
@@oceanwave4502 Defense against US? Who else is attacking Europe?
@@Julia-hf9yk Exactly. The USA government operates exactly like the Italian mafia. Provide protection to the local business against the mafia itself.
Hopefully they can hang on a few more weeks, ive got a Born that is due to start being built, build week starting November 11th. 🙈
Perhaps Volkswagen should get Elon Musk to buy the company and bring it up to date. I don’t think that every part of the cars should be hand made by robots, but a92.5% robotised factory would certainly bring costs down.
If Trump doesn’t win the election then there’s a possibility he’ll only be able to buy soap & toothpaste.
I was just thinking whilst watching Sam’s video that there seem to be a lot of people in those factories. I imagine Tesla’s one down the road looks a lot different.
Watched a YT video of a Canadian visiting China, after it being over 10 years since last visit, to same 3 cities. He is mainly talking about cycling, but made a comment that 10 years ago, most cars were VW. Now very few around. Plus lots of E riding scooters (like a Vespa).
The German state will always save its beloved child, no matter what it costs and no matter whether it has put itself in this situation. The German citizen will once again have to bear the costs. Let's hope that Volkswagen finally focuses on electric cars.
You wrote it right, we need to give Volkswagen 500 billion euros so that they make cars that cost 100 thousand euros. At my job they promise to raise my salary 5 times next year and then I will receive 100 thousand euros a year and will be able to buy a car from Volkswagen.
What and Mercedes and BMW as well….
At the beginning of the war when sanctions kicked in, German politicians thought of the possibility of getting rid of Russian energy in 5-10 years and started using Green energy. This was supposed to be "one stone (green transformation) kills two birds (Russian reliance + pollution/CO2). I laughed hard because the whole industry could just move to Green Tech, e.g. steel industry, and the whole world would wait patiently for Europe to do so? 😏
Unless you are Ukrainian, the German government does not care about you.
I doubt it will be the German state, I expect the EU will be asked to bail them out
I have been a fanboy of Porsche since I was a kid. I'm talking 1970's.
I've switched teams.
Carn the Pear!!!!!!
It's the end of legacy car makers. This is a direct result of Government policy. Wow😢
Nothing to do with Government. VW brought all those problems upon themselves by not moving forward on BEV technology, to which Herbert Dies knew how to go, however they fired him.
It's a normal part of the natural world. The Oak tree finally dies and the new saplings spring up from the rotting debris. Life goes on.
@@marviwilson1853 The new tree will not be German.
@@oldtechie6834 I agree. Probably bamboo!
This is the first cut of the net zero lunacy. VW and many other manufacturers are being fined massively for producing ice cars that people want, while being forced to make EVs that most people dont want.
The car manufacturers are a large part of Germany's economy , so closing 4 factories is going to be a big deal especially as the other car companies are also hurting from the EU's net zero obsession.
As Germany is the largest economy and contributor to the EU, the EU is going to suffer for their policy faux pas, particularly if car companies in other countries are feeling the same pain.
I bought my first VW, GTI, in 2003 and the reliability was a disaster. The car was the shop every months for a major problem and every repair was over $800. The last problem was the transmission that went bad because VW lied that the oil does not need replacement and the cost to replace the transmission was over $11k
I have been buying Toyota ever since and I am extremely happy. The last Toyota we bought was a hybrid Prius. The car is over 4 years old and never had a problem. Zero problem.
So my answer to VW is that VW deserves to go out of business for the crappy car they sold me
It’s a crying shame. I used to have a Mk2 Golf GTi back n the day - fabulous hot hatch, brilliant quality. Had a Passat about 10 years ago, nowhere near as good. They’ve just gone downhill ever since.
VW Problems
1. Not affordable as Chineses
2. Not hi tech as Chineses
3. Not reliable as Japanese
4. Red Tape
5. Bloated factories
you guys get it so wrong ! Volkswange's EVs are expensive in Euurope but very affordable in China, they are cheaper than many Chinese EV models
Bloated egos.
China cars are garbage
The Chinese Volkswagen ID series is still very cheap, but its competitors are even stronger in the same price range.
Isn’t vw 15k in china ?? Vw sucks at software something that the Chinese consumers loves.
This is what happens when you give in to the Unions and also you don’t make changes when you see the new way of pressing out car parts.
Way to go VW! keep on supporting n szi regimes all over the world.
They got out of Russia in 2023
@@JCo295he's referring to the real n szi, not what the MSM said.
@@backpackpepelon3867 There’s a handful of countries where the label might apply and Russia is one of them. Which country were you and your sock account thinking of?