Will Volkswagen have to close factories to avoid sales slump , DW News

Germany is a byword for car manufacturing. But today Volkwagen has issued a warning that has people wondering whether it has reached the end of road as an industrial power house. At a special meeting of the workforce at its headquarters, VW executives told employees the company may have to close factories in Germany if it s to survive a huge slump in car sales. Competition from Chinese car makers and a failure to innovate in electric car technology has left them chasing the pack. 0:00 VW s warning from Germany 3:18 Carsten Brzeski, ING Bank Chief Economist Subscribe: For more news go to: Follow DW on social media: Facebook: Twitter: Instagram: Twitch: Für Videos in deutscher Sprache besuchen Sie: , vw, volkswagen, sales