Volkswagen plans 20% cost reduction by 2028

 

German carmaker Volkswagen announced plans to cut expenses by up to 20% by the end of 2028, aiming to restore sustainable profitability amid growing market challenges.

• The plan may involve stronger cooperation between brands and possible plant closures.

• CEO Oliver Blume and CFO Arno Antlitz presented the savings strategy to senior managers in Berlin in mid-January.

Sources – Agencies