German multinational carmaker Volkswagen Group will axe dozens of combustion engine models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, chief financial officer Arno Antlitz said on Wednesday
MOSCOW (Pakistan Point News / Sputnik - 06th April, 2022) German multinational carmaker Volkswagen Group will axe dozens of combustion engine models by the end of the decade and sell fewer cars overall to concentrate on producing more profitable premium vehicles, chief financial officer Arno Antlitz said on Wednesday.
"The key target is not growth," Antlitz told Financial Times. "We are (more focused) on quality and on margins, rather than on volume and market share."
Volkswagen will reduce its line-up of petrol and diesel cars, which consists of at least 100 models, by 60% in Europe over the next eight years, according to Antlitz.
Volkswagen Group is the largest vehicle manufacturer in Europe, uniting such brands as Volkswagen, Audi, Skoda, SEAT, Porsche, Lamborghini, Bentley, Bugatti, Scania and MAN.
