Volkswagen boss Oliver Blume
The restructuring of the core brand becomes the second major project of his tenure.
(Photo: dpa)
The car manufacturer VW is preparing a far-reaching conversion of its core brand Volkswagen. The Handelsblatt learned from corporate circles that there is a program in the room with which the annual results are to be increased by at least three billion euros. It may even take a few billion more to reorganize Volkswagen.
Brand boss Thomas Schäfer confirmed the plans in a letter to the workforce: “We can see that our brand is not yet solid enough economically.”
Above all, the margin of the core brand worries the management. In the first quarter, the operating return on sales fell to three percent – and leaves the target of 6.5 percent a long way off. Better results are not possible without countermeasures, warned an executive.
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