Volkswagen Producing Fewer Cars

At press time, Volkswagen ($VWAGY@Germany) had only produced 300,000 cars at its primary plant in Wolfsburg, Germany. While that may seem like a lot of cars, that’s the lowest figure for the factory since 1958. The plant builds the VW Golf and Tiguan along with the Seat brand and should produce around 780,000 vehicles per year. Production figures are lagging far behind pre-pandemic levels, and the plant has been under fire recently because it does not yet produce electric vehicles—which is cause for concern as Tesla ($TSLA@US) plans to open its own plant in Germany. VW stock remained flat in early trading.