The company recently indicated that 100,000 jobs could be at risk, as well as four factories.
In a press release on Thursday, it said the company's model range may be cut by half.
But now the company's CEO, Oliver Blume, is suggesting that factory closures may not be the first choice.
"There are more intelligent solutions than closing factories," he told German Bild.
But the question remains how the necessary cost reductions will be made. According to Blume, some savings have already been made - although more are needed.
The CEO says costs in Germany were cut by an average of 20 percent last year.
