German Chancellor Merz vows to continue reforms despite his CDU party's electoral losses, while Volkswagen faces a historic restructuring and removal from the Euro Stoxx 50 due to intense Chinese competition. FT industry reporter Kana Inagaki analyzes the automotive sector's challenges, noting that European manufacturers must accelerate development cycles to remain competitive. Meanwhile, FT Washington bureau chief James Palidi discusses Senator John Ossoff's centrist strategy in Georgia, which focuses on corruption and affordability to unite moderate and progressive Democrats ahead of the …