Volkswagen Exits Euro Stoxx 50 This Month, Nokia to Replace It

Volkswagen will be removed from the EURO STOXX 50 index on September 21, with Nokia taking its place. Following this adjustment, only three automakers—BMW, Mercedes-Benz, and Ferrari—will remain in the index. Previously, Volkswagen Group announced plans to close four plants in Germany over the next decade and cut a total of 50,000 jobs across its Volkswagen, Audi, and Porsche brands. In August, CEO Oliver Blume stated that an additional 25,000 positions could be eliminated in Germany, with another 25,000 potentially cut overseas, bringing the total possible job reductions to 100,000 if fully implemented. Management also aims to reduce annual production capacity from 12 million vehicles to around the current actual output level of 9 million units and streamline vehicle variants. On September 4, management will face another critical vote on the restructuring plan; if it fails to pass, an extraordinary general meeting may be convened for shareholders to decide.