"The situation is serious," said the head of Volkswagen. Due to financial issues, the development of an important model has been halted.

Volkswagen faces significant challenges as it reports a nearly 99% drop in operating profit for the first nine months of the year, leading to the suspension of development for the ID. Golf model. The company is restructuring due to financial losses, particularly from its Wolfsburg plant, which is operating at a deficit of 300 million euros this year. CEO Thomas Schäfer acknowledged the seriousness of the situation, emphasizing the need for cost-cutting measures across the organization. Despite the halt in ID. Golf development, union representatives suggest this may not delay its planned release in the early 2030s, highlighting the company's strained financial state.