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Volkswagen says VW brand will improve profitability in 2017
March 7, 2017 / 9:55 AM / 7 months ago

Volkswagen says VW brand will improve profitability in 2017

File Photo: The logo of a Volkswagen Beetle car is seen at the so called "Sunshinetour 2016" in Travemuende at the Baltic Sea, August 20, 2016. REUTERS/Fabian Bimmer/File Photo

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

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