“It’s like the gym,” says the manager.
(Photo: dpa)
Dusseldorf At least literally, investors were able to pick up speed with Volkswagen on Wednesday. Germany’s largest car manufacturer had invited the professional investors to a capital market day at the Hockenheimring – with a “driving event” at the Motodrom in the Kurpfalz, as the invitation stated.
Away from the racetrack, VW was only hesitant to get off the ground from the point of view of stockbrokers. Since CEO Oliver Blume took office in September, the car manufacturer’s share price has fallen by around eight percent.
After all: Since June, the paper has been trending upwards again. One reason: The management around VW board member Blume is currently working on “the biggest conversion in decades”, as it is said from the top level in Wolfsburg in the background. The Handelsblatt reported several times on the plan, which envisages better plant utilization, annual cost reductions in the billions and a reorganization of the group structure.
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