Webasto: Navigating the Auto Industry Turnaround by 2028
Automotive supplier Webasto anticipates financial recovery by the year 2028. - Car manufacturer Webasto aims for reorganization by the year 2028
Ready to bounce back, Webasto, the globally-reputed automotive supplier, is diving head-first into a comprehensive three-year restructuring plan. This radical shift aims to revive the firm's financial health by 2028. As the CEO, Jörg Buchheim, puts it, a long-sought-after financing solution is "just around the corner." Originally, a stabilization agreement with key creditors was extended until summer; now, it's seeing an extension beyond that. In 2021, the company's revenue plunged from 4.6 to 4.3 billion euros, with neither profits nor losses being shared.
Job Cuts Galore
Webasto, nestled in Stockdorf near Munich, has already shed around 1,300 jobs out of its initial 16,600 positions, leading to 15,300 employees globally, including 3,700 in Germany. This year, an additional 650 jobs in Germany are on the chopping block. Apart from creating sliding and panoramic rooftops for cars, Webasto also manufactures heaters and battery systems for electric vehicles. The company traces its roots back to 1901.
Steady Sail, Stormy Skies
The year 2025 saw Webasto steadying itself, according to Buchheim, but it requires more grit to achieve a lasting transformation. Market fluctuations and uncertainties loom large, including trade disputes and global economic upheavals.
Known for heavily relying on the Chinese market, Webasto and fellow German automakers found themselves in rough seas there. However, the ripple effects of the crisis have impacted suppliers harder than the automakers themselves.
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Considered a market leader in roof and thermal management systems, Webasto started restructuring in late 2024 to contend with lower demand and mounting competition. The restructuring, set to conclude by 2028, involves capacity and workforce adjustments, a focus on localization, innovation, financial restructuring, and building resilience to future challenges. Webasto has been investing in new products, such as electric vehicle solutions, and exhibited rear-seat entertainment innovations at the Shanghai Auto Show.
In the quest for financial recovery, Webasto, a front-runner in the auto industry, is undertaking a comprehensive three-year restructuring plan, targeting a turnaround by 2028. This overhaul will encompass vocational training, possibly for a workforce restructuring, to ensure industry-relevant skills are embedded within the company, positioning Webasto for future business success in the auto sector.
