Jim Cramer: Volkswagen Slammed by More Than Scandal

Volkswagen sales are suffering from not just the emissions scandal, but a lack of German fiscal spending,
Author:
Publish date:

Volkswagen (VLKAY)  sales are suffering, not just from the emissions scandal, but a lack of German fiscal spending, says TheStreet's Jim Cramer. Volkswagen is set to cut 30,000 jobs in sweeping turnaround in an attempt to salvage the beleaguered company. Once the world's biggest carmaker, the Wolfsburg-based icon of German industry was rocked by an emission-testing scandal which has seen it lose more than 22% of its value and give back market share to its rivals.