VW's New CEO Pledges to Lift Profitability Amid Industry Changes
- Shares gain more than 4% as diesel scandal cash outflows ease
- Easing restrictions in China might benefit Porsche brand
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Volkswagen AG’s new chief executive officer stressed his commitment to higher profit margins as he pushes to adapt the world’s biggest automaker to accelerating industry change.
“Our goal is to transform the Volkswagen Group into one of the industry’s leading companies in terms of profitability, innovative power and sustainability,” CEO Herbert Diess said Thursday in an emailed statement. “The quarterly results confirm that we are on the right path.”