VW Restructuring Plan Due by October

Volkswagen AG CEO Martin Winterkorn tells the company's senior managers he plans to unveil a more agile company structure and management model by October, sources tell Automobilwoche.

Winterkorn provided no details but said structural changes are needed to prepare VW for the next 10-20 years, according to the report. Critics, include ousted Chairman Ferdinand Piech, complain the company's costs are too high and say it must improve sales in the U.S. and successfully develop a low-cost car for emerging markets.

Winterkorn has pledged to cut annual costs €5 billion for the company's VW brand by 2017.