September 12, 2018 / 9:58 AM / 10 days ago

VW brand must become significantly more efficient: CEO

HAMBURG (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 VW logo is seen in front of the main building of the Volkswagen brand at the Volkswagen headquarters during a media tour to present Volkswagen's so called "Blaue Fabrik" (Blue Factory) environmental program, in Wolfsburg, Germany May 19, 2017. REUTERS/Fabian Bimmer - RC121FE70BA0

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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