Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.
BREAKING NEWS

VW brand seeks 6 billion eur cost, efficiency gains by 2023 - Handelsblatt

VW brand seeks 6 billion eur cost, efficiency gains by 2023 - Handelsblatt
FILE PHOTO: Volkswagen logos during the media day of the Salao do Automovel International Auto Show in Sao Paulo, Brazil November 6, 2018. REUTERS/Paulo Whitaker/File Photo -
Copyright
Paulo Whitaker(Reuters)
Euronews logo
Text size Aa Aa

FRANKFURT (Reuters) – Volkswagen’s <VOWG_p.DE> core brand will seek cost and efficiency gains of almost 6 billion euros ($6.8 bln) in an effort to raise the VW brand’s operating margin to 6 percent by 2023, German daily Handelsblatt said, citing company sources.

Volkswagen has said it seeks to achieve an operating return on sales of at least 6 percent by 2025.

Around 3 billion euros in cost and efficiency gains will come from better pricing of passenger cars and a push to sell higher-margin models, while another 3 billion euros in savings comes from reducing the complexity of the cars on offer, and a cut in administrative costs, a source close to the company told Reuters.

($1 = 0.8811 euros)

(Reporting by Edward Taylor; Editing by Susan Fenton)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.