April 29, 2016 / 11:22 AM / in a year

Continental CEO says VW not pushing for price cuts: CEO

Elmar Degenhart, CEO of Germany's Continental AG speaks during the 'International CAR Symposium' in Bochum January 29, 2013. REUTERS/Ina Fassbender

HANOVER, Germany (Reuters) - Continental (CONG.DE) sees no signs that Volkswagen (VOWG_p.DE), one of its largest customers, is seeking price reductions to help contain the costs of its emissions scandal, Chief Executive Elmar Degenhart said.

Degenhart, speaking on Friday at the auto supplier’s annual shareholder meeting in Hanover, Germany, said Volkswagen’s (VW) emissions scandal had no financially measurable impact on the company last year.

Business with VW, one of Continental’s five biggest customers by sales, will increase further over the course of the year, the CEO said, adding there is no indication that Continental was involved in irregularities at VW related to emissions issues.

Reporting by Jan Schwartz; Writing by Andreas Cremer; Editing by Christoph Steitz and Edward Taylor

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