Financial Times Reporting Volkswagen Plans to Scrap Models and Focus on Premium Market
The Financial Times is reporting that Volkswagen is looking to scrap dozens of internal combustion engine models by the end of this decade and focus on profitable, premium vehicles.
The Financial Times has Arno Antlitz, chief financial officer with Volkswagen saying the automaker is putting it sights “quality and on margins, rather than on volume and market share.”
He later went on to say that the automaker would shrink its gasoline and diesel engine lineup of vehicles by 60 per cent in Europe over the following eight years.
More can be read at https://www.ft.com/content/431c9f31-5438-439b-b0c7-ccb4d96d1733