吉利汽车

Breaking: Volkswagen is preparing to cut 15% of its global workforce.

Volkswagen is now considering cutting up to an additional 100,000 jobs on top of its total global workforce of 667,164, and closing four German plants: Hanover, Zwickau, Emden, and Audi's Neckarsulm plant.

This is the largest restructuring in the company's 88-year history.

The supervisory board will discuss the matter on July 9th. And this is the third escalation within 18 months.

End of 2024: 35,000 positions.

March 2026: Raised to 50,000 positions after operating profit plunged 53% to €8.9 billion, the worst result since the 2016 dieselgate scandal.

Now: 100,000 positions, double that number, and for the first time in the company's history, accompanied by plant closures.

Despite a 44% profit plunge in 2025, Volkswagen's executive board received total bonus payments of €13.6 million, with CEO Oliver Blume personally taking home €7.4 million.

Bonuses are linked to cash flow, not profit, so management got paid while the company recorded its worst year since dieselgate.

China is the main reason for this situation.

Volkswagen was China's top automaker for years. BYD took that position in 2024. Volkswagen fell to third place in 2025, behind Geely.

The market share of non-Chinese automakers in China's EV market plummeted from 57% in 2020 to 32% in 2025. Volkswagen's local EV sales in China fell 44.3% in a year.

Chinese automakers are not limited to the Chinese market. BYD, Chery, SAIC, and Leapmotor doubled their combined share in the European market by May, expanding directly into Volkswagen's European home turf, while Volkswagen simultaneously lost ground in China.

Volkswagen plans to cut its planned five-year investment by 15% to just over €130 billion, while reportedly considering spinning off its core Volkswagen brand and components business into separate entities.

The union has already promised to fight.

IG Metall and Volkswagen's works council said on Friday they would "do everything to stop" these job cuts. The same union organized a 100,000-worker warning strike across Germany in December 2024, shutting down production at multiple plants for hours at a time over a round of layoffs only half the size of this one.

If 35,000 job cuts triggered that kind of reaction, the fight over 100,000 jobs and four closed plants is likely to cause far more severe disruption.

It's been a month. Looking back, all the initial predictions have come true. If Lei Zi still uses speed as an advantage for marketing, a stock price of 15 is already too high.

$CATL(03750.HK) rose by two or three points, the leading power battery company is still stable; $GEELY AUTO(00175.HK) dipped slightly 🙃

Both are in the new energy vehicle chain, but upstream batteries and downstream vehicle manufacturing have moved in two directions. Batteries are supported by demand from energy storage and overseas orders, while vehicle manufacturing is still pressured by domestic price wars and sales data. Each has its own situation.

$GEELY AUTO(00175.HK)Jiji, what are you doing?

Mouth says buy, but actions are selling like crazy

$GEELY AUTO(00175.HK) Luckily I sold you when it was over 20 something

$GEELY AUTO(00175.HK) is in a downtrend.

$XIAOMI-W(01810.HK) being large but not strong is a microcosm of the automotive industry. CATL's A-share market cap is 1.8 trillion, while the combined market cap of the 18 listed automakers below it is only 1.2 trillion. Upstream suppliers are raking in money hand over fist, while downstream automakers are engaged in an increasingly fierce battle in a saturated market. There are many other industries domestically where upstream suppliers monopolize profits, and downstream assembly plants are essentially just beasts of burden earning meager wages. Coincidentally, Mi's main businesses are all in these areas... In cars, batteries take the lion's share of profits; in phones, storage takes the lion's share of profits. Core materials are forever dependent on suppliers. No matter how big Mi's scale becomes, it's difficult for profits to rise significantly.

Seres

SAIC Motor

Great Wall Motor

GAC Group

Changan Automobile

JAC Motors

BAIC BluePark

Haima Automobile

Beijing Automotive Group

Chery Group

Geely Automobile

XPeng Group

Li Auto

Leapmotor

Voyah

Nio

$GEELY AUTO(00175.HK) rose by five points, while $CHERY AUTO(09973.HK) barely moved — both are Hong Kong-listed automakers engaged in a price war, but one was bought up today while the other stood still. Is this the market starting to differentiate based on who can better withstand the price war, or is it simply that $GEELY AUTO(00175.HK) has its own sales or new car catalysts? I guess it's still the beginning of a divergence — at this stage of the price war, whichever company's scale and cost structure can better support gross margins, capital is willing to give it a premium first. The flatness of $CHERY AUTO(09973.HK) seems more like it's waiting for its own catalyst to materialize.

$XIAOMI-W(01810.HK)$SERES(09927.HK)$GEELY AUTO(00175.HK)

Recently came across a mechanism called "Order Interception Reward".

For example, if a potential buyer has already placed a deposit for a Xiaomi car, salespeople from other brands can immediately apply for a cash or points reward of 5,000 yuan, asking you to abandon the original order and switch to their own brand.

There's a bug in this mechanism — order data is not shared between different brands, so it's impossible to verify whether the buyer has actually placed and paid for other orders.

This has led to the emergence of third-party intermediaries who help car owners create an order to assist in applying for the "Interception Reward"…

Domestic new energy vehicles are really well-made, but the intensity of competition is truly hellish.

Anta Sports, MINISO, and Geely Auto all fell slightly, with the declines not being significant — Hong Kong stock consumer sector today is in a state of following the broader market's slight pullback 😔

In sportswear, retail, and vehicle manufacturing today, no one has an independent story; it's just that when RMB assets are generally weak, the consumer sector follows with a mild decline. This kind of small drop doesn't carry much information; it's more of a synchronized reaction to the broader market sentiment. At the fundamental level, these companies haven't had any new disturbances recently.

$GEELY AUTO(00175.HK)Why does Geely keep falling every day?

Chery Automobile and Geely Automobile have barely moved; Hong Kong-listed automakers are treading water under the dual pressures of price wars and sales data. Toyota Motor fell by over three percentage points, with traditional automakers facing even more pressure amid the transition to electrification and exchange rate fluctuations.

The automotive sector has been waiting for a clear signal from the demand side: will a domestic consumption recovery first rescue Hong Kong-listed independent brands, or will a global slowdown in electrification drag everyone down? In the short term, I remain relatively cautious—it's difficult for the auto sector to stage an independent rally before a turning point in sales and prices appears.