Global Autos Daily: The Morning News

Research evidence excerpt

Global Autos Daily: The Morning News

Deutsche Bank

Research

Europe Strategy Date

3 July 2026

Global Autos Daily Market Update

The Morning News

Tim Rokossa

VW restructuring, Michelin Q2/H1 preview, BMW Investor Head of European Equity Research

Day feedback, Volvo Cars June deliveries, Rheinmetall,

Gestamp & Duerr Q2 previews, US Autos' June sales, Rivian Christoph Laskawi

Research Analyst

Q2 deliveries, XPeng update, GWM June delivers, Thailand,

Indonesia & Malaysia monthly sales, Germany Blog & Tiny Nicolai Kempf

Note - German reforms, Focus Europe - Political change, US Research Analyst

Economic Chartbook - employment, Investor Positioning Edison Yu

and Flows - Charts, FX Blogs - US$ & GBP Research Analyst

Bin Wang

INVITES: Ferrari Expert call (7/9), Truck'n'Roll - Truck IAA Research Analyst

Field trip (9/15-16) Nikita Papaccio

VW - Corporate simplification discussed as part of Group Target Picture 2030

(Wiegratz) Winnie Dong

According to Handelsblatt, ahead of the 9 July supervisory board meeting, VW's Research Analyst

already known "Group Target Picture 2030" could include €11bn of overhead cost Laura Li

reductions, lower investment spending of €135bn vs €160bn previously planned Research Associate

and a reduction in factory costs per vehicle in Europe to below €3,000 from around James Mulholland, CFA

€4,000 currently, alongside a significant simplification of the group's product and Research Associate

corporate structure. The article suggests VW is targeting a 9% group margin on

Wei Huang

around 9m vehicles by the end of the decade, while also reporting that around 5,500

Research Associate

management positions could be eliminated, roughly 600 shareholdings could be

divested and several German sites, including Emden, Hannover, Zwickau and Mira Wiegratz