The European automotive industry accelerates on efficiency plans and cost reduction. After Volkswagen, also bmw is preparing to intervene on the workforce with thousands of voluntary exits, while Porsche e Aston Martin They have confirmed restructuring programs to protect margins and liquidity. The manufacturers' moves come at a challenging time for the sector, amid slowing Chinese demand, pressure from Asian brands, the costs of the electric transition, and weaker prospects for some of the major German groups: Mercedes, Volkswagen, and Audi have already reported lower expectations for 2026, while the components sector is also under pressure, with Bosch engaged in workforce reductions.
The reaction on the stock exchange The outlook remains cautious: BMW shares fell 0,24%, Porsche 0,11%, while Aston Martin rose 2,44%, buoyed by improved operating results and expectations regarding the recovery plan. Investors are therefore looking not only at financial statements, but above all at the groups' ability to translate restructuring programs into greater competitiveness and cash generation.
BMW prepares a reduction plan: 8.000 voluntary departures through 2027
The Bavarian group is preparing a staff reduction plan which could involve about 8.000 employees globally through encouraged voluntary exitsAccording to Deutsche Presse-Agentur (dpa), the Bavarian group has reached an agreement with the works council on a cost-cutting program, although it has not yet officially confirmed the total number of redundancies.
The plan comes after weeks of rumours about a new phase of operational efficiency and foresees, according to Bloomberg, exit incentive packages for German employees. The first exits are expected to begin from October 2026 and they will continue until the end of 2027, with the goal of generating annual savings of approximately €1 billion by 2028. The agreement on the main points was reportedly reached with the final signature on Tuesday, before the meeting with employees, which will also be attended by the CEO. Milan Nedeljkovic.
The cuts plan comes on the eve of the accounts: tomorrow the German car manufacturer will present the second quarter results e of the first half of 2026.
Porsche improves its financial statements, but continues its restructuring plan.
The same pressure is also pushing Porsche to accelerate restructuringand, despite an improvement in its accounts, the Stuttgart-based company closed the first half of the year with a operating profit of 1,35 billion euros, up 33,9%, while the operating margin rose to 7,8% from 5,5% thanks to cost discipline and a strategy more oriented towards profitability than volumes.
The recovery of margins, however, comes in a still difficult context: the revenues fell by 5,1% to 17,23 billion euros, deliveries fell by 16,5% to 122.306 cars and the share of electric models on sales dropped from 23,5% to 19,4%. For this reason Porsche confirmed the cost reduction plan, which foresees another 5.000 jobs eliminated by 2035 and which, added to the interventions already announced, brings the total of approximately 9.400 jobs less out of a workforce of approximately 42 thousand employees.
The reduction in staffing will occur primarily through the failure to reinstate retirements and voluntary departures, rather than through direct layoffs. Porsche's restructuring is also part of the broader crisis facing the Volkswagen Group, which is grappling with rising costs, the difficult transition to electric vehicles, and the loss of competitiveness in China, a historic market for German brands.
The savings plan also involves the cost of labor: Porsche will postpone 3,5% of wage increases until 2035 already agreed, while in 2027 and 2028 the managers will give up part of the expected increases. Also foreseen is a reduction of the Christmas bonusOn the financial front, however, the reorganisation is starting to have an effect: in the first six months the net costs of the plan have fallen to around 100 million euros, compared to 800 million the previous year, while the net cash flow The Automotive division's cash flow rose to €1,02 billion from €394 million in the first half of 2025, and net liquidity reached €7,3 billion.
Aston Martin cuts losses, but debt remains the issue
The Aston Martin is pursuing a cost containment strategy to support the relaunch of the brand. In the second quarter, the British manufacturer reduced adjusted operating loss to 52 million of pounds, compared to 57 million in the same period of the previous year.
The improvement came thanks to the growth of revenues, up 62% to £358,2 million, with wholesale volumes up 43% and the contribution of the new Valhalla plug-in hybrid supercar. In the first half of the year, Aston Martin delivered over 220 units of the special model, contributing to the improvement in product mix. gross margin rose to 33,1% from 27,8%, while the adjusted operating loss for the half-year narrowed by 10% to £108,9m.
However, the following remain: difficulties Financial. The pre-tax loss for the quarter widened to £88,7 million from £61,2 million a year earlier, while the net loss reached £90,1 million. net debt At the end of June it reached 1,545 billion pounds, compared to 1,38 billion at the end of 2025.
To strengthen its financial structure, Aston Martin completed in July a new 550 million loan of pounds, also intended for the repayment of lines already drawn and to strengthen liquidity. The cost reduction plan also includes cuts to the staff, a review of the five-year spending plan and greater industrial discipline, with the aim of reducing overall investment in the 2026-2030 programme from £2 billion to £1,7 billion.
For 2026, the group expects a "significant improvement" in financial results, supported by the new product mix and the ongoing transformation program. Aston Martin confirms wholesale volumes substantially in line with the 5.448 units of 2025, including approximately 500 Valhalla deliveries, and aims for a gross margin in the high 30% range.
