Volkswagen Group's third-quarter revenue fell slightly, and it proposed a plan to avoid factory closures

Volkswagen Group recently released its third-quarter financial report, showing that revenue fell from 78.845 billion euros in the same period last year to 78.478 billion euros. At the same time, operating profit fell 42% year-on-year to 2.86 billion euros, and operating profit margin fell to only 3.6%, the lowest level in more than four years. In response to this situation, Volkswagen Group proposed a cost-saving proposal, including a 10% salary cut and a revised bonus system, to avoid closing German factories.