September 12, 2018 / 10:00 AM / 7 days ago

VW brand must become significantly more efficient - CEO

HAMBURG, Sept 12 (Reuters) - The VW brand needs higher profits and must become significantly more efficient to be able to finance its future, Volkswagen group Chief Executive Herbert Diess told the brand’s staff magazine.

A return on sales of 4 percent is the minimum needed, 5 to 6 percent would allow the company to make a few investments, and with 7 or 8 percent we would make it resistant to crises, staff magazine inside on Wednesday quoted Diess as saying. (Reporting by Jan Schwartz, Writing by Tassilo Hummel)

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