Volkswagen Vows to Cut Costs Further at Banking Unit – Wall Street Journal

Posted: Tuesday, March 15, 2016

FRANKFURT—Volkswagen AG’s financial services arm is set to cut expenditure further to help offset the impact of the car maker’s diesel-emissions scandal on its financing costs this year.

The Volkswagen unit aims to reduce spending by more than €300 million ($330 million) this year and next, having lowered costs by €100 million this year, its finance chief Frank Fiedler said on Tuesday.

The pledge to reduce costs further came…


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