BIG: Volkswagen's own management is using sinking-ship language now.
A leaked 147-page internal paper prepared with Boston Consulting Group for this week's supervisory board meeting says "the Titanic has already struck the iceberg, water is flowing in."
VW isn't bankrupt — it still has over €30 billion in cash — but the old model is broken.
Margins are at 2.8%, China profits have collapsed, and the cost gap with rivals is around 20%.
The plan: up to 100,000 job cuts by 2030, four German plants losing production by the early 2030s (Emden, Zwickau, Hanover, Neckarsulm), SEAT phased out as a brand by end of 2029 in favor of Cupra, and the model lineup cut roughly in half.