The VW brand should have a return of 6.5 percent by 2026.
(Photo: IMAGO/Sylvio Dittrich)
Frankfurt The car manufacturer Volkswagen wants to increase its operating profit by ten billion euros by 2026 and achieve a return of 6.5 percent. This was announced by brand boss Thomas Schäfer on Wednesday at the works meeting in the main plant in Wolfsburg. The Handelsblatt had already reported a corresponding increase of several billion euros.
Milestones of a program are to be worked out and approved together with the employee representatives by October. “We are starting a major, joint effort to lead the VW brand to new strengths and to position it robustly for the future,” explained Schäfer. The head of the works council, Daniela Cavallo, called for a “convincing interlocking of the strategically crucial fields of group management, cooperation between the brands, focus on software and product quality”.
The new guidelines for the Volkswagen core brand are part of a general overhaul of the Group’s strategy, which CEO Oliver Blume intends to present at an investor conference on June 21. With savings and more synergy effects through closer cooperation between the group brands, he wants to increase the profitability of Europe’s largest car group.
More: VW boss Oliver Blume is planning “the biggest conversion in decades”.