VW Wants Greater Profits in 2017

The Volkswagen brand had a stable 2016 and defying expectations, but the brand’s CEO wants to do even better in 2017.

Although the brand did well, there are still massive expenditures—like TDI payments and restructuring from diesel to electricity—so Herbert Diess, CEO, wants more profit.

“Our work is paying off. We have put ourselves into an excellent position for 2017,” said Diess at a press conference at this week’s Geneva Motor Show.

VW’s surprising performance was helped along by extensive cost cutting, which has gotten Diess into trouble with unions recently.

Diess came to VW from BMW where he earned a reputation for cost cutting.

[source: Economic Times]