Herbert Diess sets new goals for Audi, VW and Porsche: Volkswagen boss calls for higher profits

07/19/2018

Herbert Diess sets new goals for Audi, VW and Porsche Volkswagen boss calls for higher profits

REUTERS

Herbert Diess

Volkswagen Group CEO Herbert Diess presents new profit targets to the most important Group brands Audi, Porsche and VW. The core brand VW should also reach their profit target earlier.

The new VolkswagenCEO Herbert Diess (59) sets new goals for his brands. Diesol’s Ingolstadt-based subsidiary claims a return on sales of 12 percent in the long term, reports manager magazin in its new issue (release date: July 20). In the past ten years reached Audi this brand only once. In 2017, the return was 8.4 percent.

Diess also demand more from the other Group brands than originally planned, according to company circles. Porsche For example, internally warned that, given the high level of investment in electromobility, the target return of 15 percent in years such as 2020 and 2021 may not be sustainable. This does not accept that.

New targets are under discussion, but not yet finalized, says the group. Top managers say the new boss is also the core brand VW new specifications. The self-managed brand should now reach its long-term target of 6 percent return on sales earlier. From 2020, but no later than 2021 is the speech.

This has been CEO of Volkswagen AG since April. He had replaced Matthias Müller at the top. On the capital market has repeatedly been criticized, the new boss give too few references to his new line.

More economy first-hand? The above text is only a minimal excerpt from the August issue of manager magazin. The new issue (and the next issue) you can here in the advantage offer to order. The digital edition is available here for you, from Friday is the print edition at the kiosk. subscribers we deliver the fresh manager magazin on Thursday in the mailbox or electronically. Or both.

To home page