German car parts manufacturer
Continental said on Monday it will cut thousands of
jobs in its automotive division worldwide as part of a plan to
save 400 million euros a year from 2025. .
Group revenues rose 3.4% to 38.5 billion euros ($40.92 billion), but group net profit fell 7.7% in light of last year s figures being boosted by the BBA consolidation, BMW said.
BMW reported a
higher margin in the third quarter in its automotive segment on
Friday, with sales of higher-priced and fully-electric cars
keeping it on course to hit annual forecasts. .
Volkswagen s
works council is demanding more information on a cost-cutting
and efficiency drive being drawn up for the automaker s main
passenger car brand, saying employees needed more.
Imports of Chinese vehicles
and parts to Germany jumped 75% in the first half of the year
while trade the other way slumped, showing the mounting pressure
on Europe s biggest auto production hub. .