Volkswagen removed from Euro Stoxx 50 Index, shares under pressure

Volkswagen has been removed from the Eurozone’s most important blue-chip stock index for the first time in 15 years, and traders say this move could add further downward pressure to the already battered share price of the German carmaker. Volkswagen’s share price has fallen by more than three-quarters from the level reached during the 2021 market rally, dropping to a roughly 16-year low. In the assessment by index provider Stoxx, Volkswagen has been removed from the EURO STOXX 50 index, which covers the entire Eurozone. Following last year’s removal of Fiat and Peugeot maker Stellantis, Volkswagen’s exit highlights the threat posed by the rise of Chinese competitors to the sector and also reflects market skepticism about Volkswagen’s historic restructuring plan, which will result in 100,000 job cuts.