Editing Volkswagen Group (section)

====Huge debt====
In its own financial report for 2023 Volkswagen Group estimated its long, medium and short term debt at 155,6 Billion Euros.<ref>{{cite web|title=Annual financial report 2023|url=https://annualreport2023.volkswagen-group.com/group-management-report/volkswagen-ag/net-assets-and-financial-position.html|access-date=2024-11-25}}</ref> It is unclear how Volkswagen group plans to pay off that massive debt considering its falling global vehicle deliveries,<ref>{{cite web|title=Volkswagen deliveries down - Reuters|website=[[Reuters]] |url=https://www.reuters.com/business/autos-transportation/volkswagen-q3-deliveries-down-confirming-challenges-european-auto-sector-2024-10-11/|access-date=2024-11-25}}</ref> planned closure of at least 3 factories in Germany<ref>{{cite web|title=Historic moment for Volkswagen: Automaker plans to close 'at least' 3 German plants and cut thousands of jobs - CNN|date=28 October 2024 |url=https://edition.cnn.com/2024/10/28/business/volkswagen-factory-closures-layoffs/index.html|access-date=2024-11-25}}</ref> after it previously closed 2 factories in Russia<ref>{{cite web|title=Volkswagen stops production of vehicles in Russia and suspends export|date=3 March 2022 |url=https://www.volkswagen-group.com/en/press-releases/volkswagen-stops-production-of-vehicles-in-russia-and-suspends-export-16813/}}</ref> as well as 64% drop in profit for the three months to the end of September 2024.<ref>{{cite news|title=Volkswagen profit plunges 64% as China sales slide - Financial times|newspaper=Financial Times |date=30 October 2024 |url=https://www.ft.com/content/b5d916ad-2fda-46cb-838a-070c092861af|access-date=2024-11-25 |last1=Inagaki |first1=Kana |last2=Pitel |first2=Laura |last3=Nilsson |first3=Patricia }}</ref> German Chancellor [[Olaf Scholz]] criticized Volkswagen's plan to close factories in Germany.<ref>{{cite news |title=Volkswagen plant closures 'not the right way', Germany's Scholz says |url=https://www.reuters.com/business/autos-transportation/volkswagen-plant-closures-not-right-way-germanys-scholz-says-2024-12-07/ |work=Reuters |date=7 December 2024}}</ref> He proposed a European [[Government incentives for plug-in electric vehicles|subsidy program]] for electric vehicles.<ref>{{cite news |title=Germany's Scholz calls for Europe EV subsidy plan |url=https://www.france24.com/en/live-news/20241210-germany-s-scholz-calls-for-europe-ev-subsidy-plan |work=France 24 |date=10 December 2024}}</ref> 

Latest setback for Volkswagen came on 21 November 2024, when Swedish battery producer [[Northvolt]] filed for bankruptcy, Volkswagen previously invested 1.4 billion euros in their failed business.<ref>{{cite news|title=Volkswagen wrote down majority of its stake in Northvolt over past year - Financial Times|newspaper=Financial Times |url=https://www.ft.com/content/5f5acae6-8c97-499c-a2c3-35671f658f28|access-date=2024-11-25 |last1=Inagaki |first1=Kana |last2=Novik |first2=Mari |last3=Nilsson |first3=Patricia }}</ref> On 27 November 2024, Volkswagen announced sale of its Xinijang factory in China partly because "demand for combustion engine vehicles is going down".<ref>{{Cite web |last=Cooban |first=Anna |date=2024-11-27 |title=Volkswagen sells its car plant in Xinjiang, citing 'economic reasons' |url=https://edition.cnn.com/2024/11/27/business/volkswagen-china-xinjiang-plant-sold-intl/index.html |access-date=2024-11-28 |website=CNN |language=en}}</ref>

Former member of Croatian parliament [[Ivan Pernar (politician, born 1985)|Ivan Pernar]] warned that due to the overall financial situation Volkswagen might go bankrupt just as "too big to fail" heavily indebted [[Evergrande Group]] did. He also questioned how will EU tariffs on Chinese cars save Volkswagen when 50% of its sales are in China itself and not in the EU, as well as its management decision to exit the Russian market.<ref>{{cite web|title=Ivan Pernar Telegram account|url=https://t.me/pernar/20195|access-date=2024-11-25}}</ref>