Volkswagen says it has “a year, maybe two” to adapt to a slump in European car sales, as it seeks to justify proposals to close factories in Germany for the first time in its history.
Separately, the Swedish automaker Volvo said it had ditched a target to sell only electric cars by 2030, opting instead to continue selling some petrol vehicles alongside battery models.
European carmakers are under pressure as they try to fund the switch from petrol and diesel to battery models. That ambition has come up against inconsistent demand, as well as increasing competition from China.
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