Finance Update

VW to launch electric models; profit margin slips to 3.8 percent last year

The profit margin at its core VW brand slipped to 3.8 percent last year, down from 4.2 percent, as higher investments into electric cars and challenges getting combustion-engined vehicles certified ate into profits, VW said. – TFMNews WOLFSBURG, Germany, March 12 (Reuters) – Volkswagen on Tuesday said it will launch 70 new electric models by […]

Business News

Volkswagen’s 5.9 billion euros annual savings goal may cut around 7,000 workforces

Volkswagen has ruled out compulsory layoffs until 2025, but early retirement will help the Wolfsburg, Germany-based carmaker to cut its workforces between 5,000 and 7,000 positions. By Reuters @moneycontrolcom – TFM News Volkswagen on March 13 stated it will reduce its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros […]