[Volkswagen was removed from the European Blue Chip Index, intensifying the downward pressure on the stock price] On September 21, Volkswagen was removed from the Eurozone’s most important blue chip index for the first time in 15 years. Traders said the move could further intensify downward pressure on the German carmaker's shares. Volkswagen shares are down more than three-quarters from their highs during the 2021 stock market rally and are currently hovering at around 16-year lows. The index claims to track the "leading companies" in various industries in the euro area. This highlights the threat posed to the auto industry by the rise of low-cost rivals and reflects market skepticism about Volkswagen's historic restructuring plan. The plan will eliminate 100,000 jobs. Analysts said VW's omission could add to pressure on its share price as exchange-traded funds (ETFs) that track the index sell off their holdings. Stoxx data shows that there are 30 ETFs tracking the Euro Stoxx 50 Index, with a total asset size of 59 billion euros; in addition, there are more than 110,000 active structured products linked to the index, with sales exceeding 68 billion euros. "Being included in an index does not change the company's fundamental strength," Volkswagen said, adding that despite the "most significant transformation" in the auto industry's history, Volkswagen "remains an attractive investment for investors."