What happened
Volkswagen's chief financial officer has publicly addressed the topic of factory closures, describing them as the most expensive choice available to the company.
According to the CFO, closing plants is seen as a last resort rather than a preferred measure.
Why it matters
This statement signals that the automaker would likely pursue other cost-cutting or restructuring measures before resorting to plant shutdowns, which could have significant implications for employees and production networks.
The emphasis on expense suggests the company is aware of the heavy financial and operational toll that factory closures would impose, possibly reflecting broader industry pressures.
Key facts
Volkswagen's CFO stated that factory closures are always the most expensive option.
The CFO described factory closures as a last resort.
What to watch next
Whether Volkswagen will implement alternative measures to avoid closures, such as operational adjustments or negotiations with labor representatives.
Future statements or actions from the company that indicate how it plans to address any underlying challenges.