Volkswagen says VW brand will improve profitability in 2017

Volkswagen’s core autos division will improve profitability and gain market share this year, after posting stable financial results in 2016 thanks to cost cuts, brand chief executive Herbert Diess said.

 

“Our work is paying off. We have put ourselves into an excellent position for 2017,” Diess said during a press conference at the Geneva auto show.

 

The company’s mass-market brand is undergoing heavy restructuring with thousands of job cuts planned via natural attrition in coming years.