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Volkswagen brand seeks €6 billion cost, efficiency gains by 2023: Handelsblatt

Reuters  |  FRANKFURT 

(Reuters) - Volkswagen's 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 said, citing company sources.

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 and a push to sell higher-margin models, while another 3 billion euros in savings comes from reducing the complexity of the on offer, and a cut in administrative costs, a source close to the company told

($1 = 0.8811 euros)

(Reporting by Edward Taylor; Editing by Susan Fenton)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, December 06 2018. 00:32 IST