Oliver Blume has set out to make Europe’s largest car manufacturer, Volkswagen, more efficient. But now it becomes clear how difficult the path is for the Wolfsburg-based company. In the second half of the year, VW would have to “make significant efforts” to achieve its own business goals, it said in a conference call on Thursday. In front of the stock market experts who were tuned in, CEO Blume repeated a mantra several times that was intended to show what is now a priority. “Cost, cost, and more cost,” he said. That means: In response to increasingly fierce competition, VW wants to exercise strict spending discipline.
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