VW brand must become significantly more efficient: CEO

VW brand must become significantly more efficient: CEO

The VW brand needs higher profits and must become significantly more efficient to be able to finance its future, Volkswagen group Chief Executive Herbert Diess told the brand's staff magazine.

A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquart
A VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called "Blaue Fabrik" (Blue Factory) environmental program, in Wolfsburg, Germany May 19, 2017. REUTERS/Fabian Bimmer - RC121FE70BA0

HAMBURG: The VW brand needs higher profits and must become significantly more efficient to be able to finance its future, Volkswagen group Chief Executive Herbert Diess told the brand's staff magazine.

A return on sales of 4 percent is the minimum needed, 5 to 6 percent would allow the company to make a few investments, and with 7 or 8 percent we would make it resistant to crises, staff magazine inside on Wednesday quoted Diess as saying.

(Reporting by Jan Schwartz, Writing by Tassilo Hummel)

Source: Reuters

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