6,575
edits
Volkswagen: Difference between revisions
→Volkswagen Passenger Cars
| Line 138: | Line 138: | ||
=== Volkswagen Passenger Cars === | === Volkswagen Passenger Cars === | ||
June 14, 2023: In order to achieve 6.5% return on sales target, Volkswagen Passenger Cars aims to improve earnings by around 10 billion euros by 2026. The group aims to achieve this by leveraging synergies and improving efficiency. | June 14, 2023: In order to achieve 6.5% return on sales target, Volkswagen Passenger Cars aims to improve earnings by around 10 billion euros by 2026. The group aims to achieve this by leveraging synergies and improving efficiency. The targeted efficiency is not expected to come from reduced wages or layoffs. One way they plan to improve efficiency is by reducing lower volume models such as Arteon and focusing more on higher-volume models. “We will focus on a small number of – though genuine – Volkswagen core models. This will reduce complexity and deliver higher profits," Thomas Schaffer said. They also plan to reduce the number of variants. "For the ID.7, for example, this means 99 percent fewer configuration options compared to a Golf 7," the press release noted. The press release added that optimizing efficiency will be necessary in order to produce the planned 25,000-euro entry-level electric<ref>https://www.volkswagen-newsroom.com/en/press-releases/performance-program-volkswagen-brand-aims-to-become-more-efficient-and-more-profitable-17315</ref>. | ||
May 17, 2023: Volkswagen plans to restructure its core brand to increase efficiency and returns. The restructuring effort will result in at least 3 billion euros annually in cost savings. -The cost savings are not expected to come from job cuts although the number of employees will likely decline due to non-replacement of retirees. "We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing," VW brand chief Thomas Schaefer wrote in the memo. "We need to create good, competitive returns in times of crisis and in a continually volatile world," he wrote. Volkswagen's core brand targeted a return on sales of 6.5% in Q1 but only managed to achieve 3.5%<ref>https://uk.news.yahoo.com/volkswagen-brand-revamp-core-brand-182155890.html</ref>. The overhaul plans will be showcased during the capital markets day in June 21<ref>https://seekingalpha.com/news/3972713-volkswagen-to-outline-multi-billion-euro-cost-saving-program-report</ref>. | May 17, 2023: Volkswagen plans to restructure its core brand to increase efficiency and returns. The restructuring effort will result in at least 3 billion euros annually in cost savings. -The cost savings are not expected to come from job cuts although the number of employees will likely decline due to non-replacement of retirees. "We can see that our brand – despite all its strengths – is not yet on a sufficiently solid economic footing," VW brand chief Thomas Schaefer wrote in the memo. "We need to create good, competitive returns in times of crisis and in a continually volatile world," he wrote. Volkswagen's core brand targeted a return on sales of 6.5% in Q1 but only managed to achieve 3.5%<ref>https://uk.news.yahoo.com/volkswagen-brand-revamp-core-brand-182155890.html</ref>. The overhaul plans will be showcased during the capital markets day in June 21<ref>https://seekingalpha.com/news/3972713-volkswagen-to-outline-multi-billion-euro-cost-saving-program-report</ref>. | ||