Transportation
VW Seeks Deeper Cost Cuts to Bolster Returns in Tough Market
- CFO says margin below ambition, seeks more productivity
- VW banks on record model rollout for second-half momentum
This article is for subscribers only.
Volkswagen AG is pushing for more cost reductions to better compete in a slowing market marred by a spending slump in China and waning electric-car demand.
Europe’s biggest automaker is reducing capacity at high-cost plants in Germany, Chief Financial Officer Arno Antlitz said in an interview. VW has also stopped hiring and put in place productivity measures at plants as part of a goal to save 20% in overhead costs by 2026.