Volkswagen’s flagship brand aims to cut €10bn in costs by 2026 as the German carmaker fights to boost earnings in an increasingly competitive market.
Arno Antlitz, chief financial officer of the entire VW group, posted on LinkedIn on Wednesday that the brand would “streamline” its product range and cut manufacturing capacity in order to hit a margin target of 6.5 per cent. The margin for the first three months of the year was 3 per cent.
Antlitz said the group was now “focusing more strongly on profitability and cash flow” in order to secure long-term investments.
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