TOPSHOT - Daniela Cavallo, chairwoman of the central works council of German car maker Volkswagen (VW) addresses journalists at a rally to protest against restructuring and mass job cut plans at the VW headquarters on July 9, 2026 at the Wolfsburg Volkswagen Plant in Wolfsburg, northern Germany. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Tobias SCHWARZ / AFP via Getty Images)

A participant wearing a costume of the Grim Reaper stands in front of the plant's entrance with employees of German car maker Volkswagen (VW) during a rally called by German trade union IG Metall to protest against restructuring and mass job cut plans at the VW plant in Zwickau, eastern Germany on July 9, 2026. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Jens SCHLÜTER / AFP via Getty Images)

TOPSHOT - A participant wearing a costume of the Grim Reaper stands in front of the plant's entrance as employees of German car maker Volkswagen (VW) take part in a rally called by German trade union IG Metall to protest against restructuring and mass job cut plans at the VW plant in Zwickau, eastern Germany on July 9, 2026. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Jens SCHLÜTER / AFP via Getty Images)

A participant wearing a costume of the Grim Reaper stands in front of the plant's entrance as employees of German car maker Volkswagen (VW) take part in a rally called by German trade union IG Metall to protest against restructuring and mass job cut plans at the VW plant in Zwickau, eastern Germany on July 9, 2026. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Jens SCHLÜTER / AFP via Getty Images)

A participant wearing a costume of the Grim Reaper stands in front of the plant's entrance as employees of German car maker Volkswagen (VW) take part in a rally called by German trade union IG Metall to protest against restructuring and mass job cut plans at the VW plant in Zwickau, eastern Germany on July 9, 2026. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Jens SCHLÜTER / AFP via Getty Images)

A "pet friendly" sign is pictured at a shopping mall in North Point district of Hong Kong on July 9, 2026. Hong Kong authorities began allowing diners to bring dogs to restaurants starting on July 9 in a bid to drum up business for the city's struggling dining sector and in response to public demand. (Photo by Peter PARKS / AFP via Getty Images)

Dog owners Magic Wong (R) and Anny Li (2nd R) order food with their pet corgis at the dog friendly restaurant Harbourview Grill in the North Point district of Hong Kong on July 9, 2026. Hong Kong authorities began allowing diners to bring dogs to restaurants starting on July 9 in a bid to drum up business for the city's struggling dining sector and in response to public demand. (Photo by Peter PARKS / AFP via Getty Images)

A participant wearing a costume of the Grim Reaper stands at the plant's entrance as employees of German car maker Volkswagen (VW) take part in a rally called by German trade union IG Metall to protest against restructuring and mass job cut plans at the VW plant in Zwickau, eastern Germany on July 9, 2026. IG Metall is organising protests by VW workers outside plants across the country on July 9, when the carmaker's bosses will present the restructuring plans to the supervisory board. Europe's largest carmaker has come under intense pressure from US tariffs, slimmer profit margins from electric cars and above all intense competition in China, the world's largest auto market. VW, whose 10 brands range from mass-market Seats to premium Porsches, is already in the process of axing 50,000 jobs in Germany by 2030, including 35,000 at its namesake marque. (Photo by Jens SCHLÜTER / AFP via Getty Images)