BERLIN (Reuters) - Volkswagen’s (VOWG_p.DE) core autos division will improve profitability and gain market share this year after posting stable financial results in 2016 thanks to cost cuts, brand chief executive Herbert Diess said on Monday.
“Our work is paying off. We have put ourselves into an excellent position for 2017,” Diess said during a press conference at the Geneva auto show.
VW’s mass-market brand is undergoing heavy restructuring with thousands of job cuts planned via natural attrition in coming years.
VW is due to publish detailed results for its twelve brands on March 14.
Reporting by Andreas Cremer Editing by Victoria Bryan