On the Dash: Volkswagen is preparing additional capacity and cost reductions as it works to improve profitability and competitiveness in Europe. A planned 500,000-unit capacity reduction could affect future production volumes and model availability across the company’s European network. Rising competition from Chinese automakers, particularly BYD, is adding pressure on Volkswagen to improve pricing, costs and product competitiveness. Porsche Automobil Holding SE urged Volkswagen Friday to quickly implement cost reductions and address excess capacity. Johannes Lattwein, the Porsche SE Board Member responsible for finance and IT, said the holding company backs Volkswagen’s management and believes “every option” must be considered to improve competitiveness. After announcing the company’s first half-year financial…
