Volkswagen wants to boost the productivity of its plants at its major brand to catch up with competitors, the head of the VW brand, Herbert Diess, informed a German newspaper.
“There’s no avoiding it, the plants have to become a lot more productive in the near future because we are not making enough money with our vehicles right now,” Herbert Diess informed Sueddeutsche Zeitung in an interview.
These comments came after first-quarter operating profit at VW’s biggest division surged to 869 million euros ($948.9 million) from 73 million a year previously.
Investors have stated a turnaround at the Volkswagen brand, which has long been saddled with high fixed and R&D expenses, is key to transforming the German giant into a more attractive business.
“We need to catch up urgently,” Diess stated, adding it was not easy to get the message across.
