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Showing results for tags '$2 Billion'.
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Volkswagen is trying to save as much cash as they can to help offset the upcoming fines and penalties due to the cheating devices they fitted to a number of diesel vehicles. We have reported that Volkswagen is in the process of freezing and reevaluating a number of projects. Now it seems the German automaker is making cuts in the trims and variants it offers. Bloomberg reports that Volkswagen will be cutting back on the number of trims and variants that it offers. Bernd Osterloh, a supervisory board member at Volkswagen says the move will cut a fair amount of complexity and costs. How much are we talking about? About $1.9 billion Euros (about $2 billion). “We from the works council have long flagged the huge range of model variants and different components. That brings enormous complexity and adds to costs, for example, for logistics. We can take out costs there on a large scale and don’t have to talk about job cuts,” said Osterloh. Source: Bloomberg -
Volkswagen is trying to save as much cash as they can to help offset the upcoming fines and penalties due to the cheating devices they fitted to a number of diesel vehicles. We have reported that Volkswagen is in the process of freezing and reevaluating a number of projects. Now it seems the German automaker is making cuts in the trims and variants it offers. Bloomberg reports that Volkswagen will be cutting back on the number of trims and variants that it offers. Bernd Osterloh, a supervisory board member at Volkswagen says the move will cut a fair amount of complexity and costs. How much are we talking about? About $1.9 billion Euros (about $2 billion). “We from the works council have long flagged the huge range of model variants and different components. That brings enormous complexity and adds to costs, for example, for logistics. We can take out costs there on a large scale and don’t have to talk about job cuts,” said Osterloh. Source: Bloomberg View full article
