You are here: Home » Reuters » News
Business Standard

Volkswagen to cut another $3.4 billion in costs to boost margins

Reuters  |  WOLFSBURG, Germany 

By Jan Schwartz and Edward TaylorWOLFSBURG, Germany (Reuters) - Volkswagen announced another 3 billion euros ($3.4 billion) of cost cuts on Thursday in an effort to speed up an improvement in profit margins at its core VW brand.Still battling to recover from a 2015 scandal over emissions test cheating, the German automaker has been cutting costs to fund an ambitious shift to electric cars and automated driving. A key goal is to improve margins at its mass-market VW brand, its largest division by sales, but which has long lagged the profitability of rivals such as Japan's Toyota due in part to ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Thu, December 06 2018. 17:23 IST