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Volkswagen: Difference between revisions
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=== Management Commentaries === | === Management Commentaries === | ||
September 19, 2023: Volkswagen's work council has demanded for more information regarding the cost-cut initiatives at the core brand. Daniela Cavallo, head of the works council said in a statement that programme milestones regarding the cost cuts were to be established and shared with employee representatives by October 1, but none so far. VW passenger car brand said in June that it was planning to achieve cost savings and cost cuts of up to 10 billion euros by 2026 in order to achieve a return-on-sales target of 6.5%. Cavallo said the employee representatives were chosen last week; hence limited time to the October deadline. "I call on the board to develop clear targets ... for all locations and all large entities within the brand," she said<ref>https://www.reuters.com/business/autos-transportation/volkswagens-works-council-demands-clarity-vw-brand-turnaround-plan-2023-09-19/</ref>. | |||
September 4, 2023: Ralf Brandstaetter, head of Volkswagen China business said the discounts offered in China were temporary and only meant for marketing purposes. He added that the cost savings from its MEB platform enabled them to cut prices. "The first results are now materialising. We have passed these benefits directly on to our customers, for example with regard to the ID.3," he told Reuters at the IAA conference. "With these consistent efforts, we have significantly strengthened competitiveness." He reiterated comments from Thomas Schaefer, CEO of Volkswagen Passenger Cars, that Volkswagen will not engage in price wars. "Profitability is our top priority. That is why we will not push electric vehicles onto the market at any price," he said<ref>https://www.reuters.com/business/autos-transportation/volkswagen-offered-temporary-discounts-embattled-chinese-market-2023-09-05/</ref>. | September 4, 2023: Ralf Brandstaetter, head of Volkswagen China business said the discounts offered in China were temporary and only meant for marketing purposes. He added that the cost savings from its MEB platform enabled them to cut prices. "The first results are now materialising. We have passed these benefits directly on to our customers, for example with regard to the ID.3," he told Reuters at the IAA conference. "With these consistent efforts, we have significantly strengthened competitiveness." He reiterated comments from Thomas Schaefer, CEO of Volkswagen Passenger Cars, that Volkswagen will not engage in price wars. "Profitability is our top priority. That is why we will not push electric vehicles onto the market at any price," he said<ref>https://www.reuters.com/business/autos-transportation/volkswagen-offered-temporary-discounts-embattled-chinese-market-2023-09-05/</ref>. | ||