For VW a lot of it is management failure. Instead of investing more into EVs and creating a car for the masses they held onto non-EVs mostly and then are surprised when cheaper vars (often from China) sell more.
Additionally VW had a dividend payout of 4,5 billion euro earlier this year (something that is not mandatory) … and then noticed a couple of months later that they are missing 5 billion euro in their budget, leading to the news above.
Ugh, Denuvo.