Volkswagen targets 20% cost cuts by 2028 amid market pressures – report

Volkswagen plans group-wide cost reductions of 20% by 2028 as it confronts rising expenses, weak demand in China and US tariffs. According to a Reuters report, which cited German trade publication Manager Magazin, CEO Oliver Blume and CFO Arno Antlitz outlined what was described as a “massive” cost-saving drive during a closed-door session with senior executives in Berlin in mid-January. Details on where reductions would fall and how brand collaboration would be enhanced were not disclosed, though poten ...