(News Bulletin 247) – Volkswagen has announced that it is launching a performance program across all its brands in order to strengthen its profitability and cash flow.
‘The new leadership principles emphasize customer orientation, entrepreneurship and team spirit’, specifies the constructor.
The group’s new paradigm targets ‘value rather than volumes’. And in that tale, Volkswagen is raising its return on sales target from 9% to 11% by 2030.
“We have realigned the Volkswagen Group, both strategically and technologically. Ambitious and strategic performance targets with structured performance programs reinforce our financial strength,” commented VW Chief Executive Officer Oliver Blume.
Over the next five years, the group plans to invest 180 billion euros as part of its strategic investment planning.
In the medium term, and after the phasing out of investments in combustion technologies, the investment rate for the entire Group must be reduced to less than 11% by 2027 and to around 9% by 2030.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
