Volkswagen passenger cars targeting 10 billion euros higher earnings via cost cuts

BERLIN : Volkswagen's passenger car brand aims to increase earnings by around 10 billion euros by 2026 to hit its return on sales target of 6.5 per cent, Chief Financial Officer Arno Antlitz posted on LinkedIn on Wednesday.

Antlitz's statement comes after Volkswagen brand chief Thomas Schaefer told workers in an internal memo in mid-May it was planning an overhaul at its core brand to put it on more solid footing after reporting 3 per cent returns in the first quarter of the year.

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