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Volkswagen Saving Strategy Paying Off, but More Still Sought

Volkswagen recently began an efficiency drive to help save money and, reports Automotive News, the drive is working, but even more savings are needed.

The Volkswagen Group reported Wednesday that first-half profits rose 7% to €7.5 billion ($8.3 billion). The report means that VW has beat forecasts and that’s thanks, in part, to the Volkswagen Brand, whose sales have been improving of late.

With more legal costs to come and the expense involved in Matthias Muller’s ten year plan, Volkswagen is still feeling the need to save more. That means tough talks between management and labor.

Volkswagen’s unions are notoriously robust, but talks that are currently going on between management and the unions appear to be going well.

“We are facing a lot of work in the coming weeks,” Bernd Osterloh, VW works council chief, told Reuters in an interview, but “we are pulling together with Mr Diess as long as the direction is right.”

Osterloh goes on to say that he and brand chief Herbert Diess at least agree on what they want: to create a financially strong and innovative brand that offers good jobs, good pay, and a good rate of return.

The post Volkswagen Saving Strategy Paying Off, but More Still Sought appeared first on VWVortex.



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