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Crisis-hit car brand threatens 50,000 MORE job cuts as it mulls four factory closures in drastic rescue plan

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THE UK’s best-selling car brand could cut 50,000 more jobs as it plans to slash half of its car models in a brutal cost-cutting drive.

The German automaker has struggled with poor sales since April as it fights off competition from Chinese car brands such as Jaecoo, Chery and BYD.

Volkswagen is also to stop the production of half of its car models Credit: AFP via Getty Images

VW’s main sales have seen a slump in the second quarter of the year (stock) Credit: AP

The news that Volkswagen could aze more jobs and close four plants comes as the number of Chinese cars for sale in Europe rises to its highest ever level.

As of last month, almost 140,000 cars from Chinese manufacturers have been registered in the UK alone.

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Volkswagen could ​cut around 50,000 additional jobs ‌based on calculations aimed at bringing the carmaker into line ​with the cost competitiveness ​of other companies, CEO Oliver Blume ⁠told staff in an ​internal memo seen by Reuters ​on Monday.

This ​means a “theoretical ​deduction” ⁠of another 50,000 jobs worldwide, according to the ​memo.

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“We are currently assessing ​across ⁠all brands, companies and regions how many adjustments are ⁠actually ​necessary and feasible,” ​Blume said in the document.

The firm is also considering shutting its plants in Hanover, Emden, Zwickau and Neckarsulm, reports Reuters.

Volkswagen will also stop the production of half of its car models to focus on its best-selling and most profitable vehicles.

After a board meeting last week, the automaker said its “fundamental realignment” had reached the next stage, leading bosses to announce it would streamline its models by up to half.

Chief executive of VW, Oliver Blume, said plant closures are a last resort while the reduction in car models would make the company “faster, more robust and more competitive”.

VW’s main sales have seen a slump in the second quarter of the year, with its core Volkswagen unit reporting deliveries of just more than one million between April and the end of June – a drop of 14 per cent.

Sales in China, the company’s biggest buyer, also dropped by one-third.

Audi deliveries also declined by eight per cent, and Porsche fell by 18 per cent. Sales increased at Lamborghini, Skoda, and the trucks unit.

The Jattvibe has approached Volkswagen for comment.

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