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Volkswagen’s flagship motorcar brand increases profit expectations

Volkswagen’s major motorcar brand lifted its mid-term aim for profit margins & promised to speed up turnaround efforts as cost cuts help toll free funds to boost its sport-utility car lineup & develop more hybrid & fully-electric cars.
“We going to more accelerate the realignment of Volkswagen, still the worldwide model & electric offensive & work difficult on costs,” VW brand chief Herbert Diess told in the statement.
The brand accounts for more than half of Volkswagen group’s universal deliveries & develops key tech for sister nameplates involving Audi, Skoda & Seat.
The VW brand going to invest €22.8bn euros (£20bn) over the following five years, involving some €6bn alone on fresh tech & electric-car development.
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VW brand raises midterm profit outlook on higher-margin cars, cost cuts

WOLFSBURG, Germany, Nov thirty (Reuters) – Volkswagen’s core autos division has lifted its midterm outlook for profitability on cost cuts & a planned rollout of higher-margin models, & expects deliveries to chock a fresh record this year.
Persistent request for sport utility cars going to help VW brand this year to win the 2016 deliveries record of 5.99 mn cars, the carmaker told without being further specific.
The VW brand, which has been undergoing heavy restructuring for about a year, told it has saved fixed costs broadly stable this year in spite of growing spending on model launches.
“We have completed the 1st 5 kilometers of a marathon,” VW brand chief executive Herbert Diess said.
“We are all aware of the challenges which lie ahead of us.” (Reporting with Andreas Cremer; Editing with Arno Schuetze)

 

Volkswagen brand leaves behind emissions scandal, raises profit targets

Volkswagen told Thursday which its namesake brand going to exceed its 2017 margin aim of 2.5 to 3.5 percent.
The 2020 margin aim for the Volkswagen brand has this day been raised to sit among four & five percent.
The VW brand, which makes up about half of discounds for the 12-brand Volkswagen Group, has too recorded powerful discounds across 2017.
VW’s Brand chief executive officer Herbert Diess told Thursday which a fresh sport utility car release in the U.S., a healing in Latin US & reduced costs in Europe were helping the firm.
“Basically, we are 1 year ahead in our turnaround programme & which gives us confidence,” he said.

 

 

 

collected by :Victor Alphen

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