BYD Co. has started the final quarter of the year with impressive sales figures, achieving a record for monthly sales. This strong performance comes as auto purchases in China usually peak during this time of year.
Volkswagen is planning to close at least three factories and lay off thousands of workers as part of a restructuring effort to tackle declining sales and profits, especially in the electric vehicle sector. Additionally, the company will reduce wages by 10% for tens of thousands of employees. Bloomberg's David Welch discusses this developing crisis for Volkswagen on "Bloomberg Markets."
