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VW Targets Profits in U.S., Russia, South America by 2020
Volkswagen AG’s core brand hopes that new products and cost cuts will end its losses in Latin America, Russia and the U.S. by 2020.
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Volkswagen AG’s core brand hopes that new products and cost cuts will end its losses in Latin America, Russia and the U.S. by 2020.
The company tells reporters its VW sales are improving in all three regions so far this year. Russia and the Americas, which generate nearly 20% of its global sales, will make a “significant” contribution to profits by the end of the decade, predicts VW brand chief Herbert Diess.
He notes that the marque is targeting a 15% productivity improvement in product development, procurement and manufacturing in Germany between now and the end of next year. The unit aims for additional 5% efficiency gains in 2019 and 2020.
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