“We started with symbolic topics. Whether it was cookies at meetings or the personal chauffeur for the CEO, cost cuts were made across the board,” he explained.
“When we temporarily cut working hours at our Rüsselsheim factory in January 2018, we also reduced hours here at headquarters. That never happened before. We reduced the number of senior executives by almost one-third to accelerate the organisation.
“These moves did not go unnoticed. People saw a whole new company. This had a profound effect internally and helped the team execute much more quickly and easily.
“We couldn't have imagined that we would slash fixed costs by 28 percent last year. The biggest levers, however, were the reduced complexity combined with improved pricing power and revenue per car. They really made the turnaround possible,” Lohscheller said.
Ryan has spent most of his career in online media, writing about everything from sport to politics and other forms of crime. But his true passion – reignited by a 1971 Austin Mini Mk3 still tucked lifeless in a dark corner of his garage – is of the automotive variety.