FRANKFURT – Volkswagen Group's CEO Oliver Blume, who is pushing for unprecedented cutbacks in the German automaker's home market, said change was needed because the European market is shrinking while competition is increasing.
Speaking in an interview in Sunday paper Bild am Sonntag, Blume said "the pie has become smaller, and we have more guests at the table."
"Fewer cars are being sold in Europe. At the same time, new competitors from Asia are forcefully pushing into the market," he was quoted as saying.
