GERMANY: VW aims for big savings from Porsche integration
Volkswagen chief executive Martin Winterkorn has defended VW's plans to integrate Porsche and reiterated ambitious sounding targets for cost savings.
Financial Times Deutschland reports that VW wants to save EUR700m a year through the integration of the two companies.
However, the newspaper notes that the figure has been criticised as too high.
Winterkorn maintains that the combined model platform alone could save a one-off of EUR250m.
Winterkorn also referred to VW and Porsche's successful cooperation in the past, including the development of the ceramic brakes which would not have been sensible for VW alone. The brakes are now also fitted to Audi cars.
The report added that new Porsche CEO Michael Macht also referred to the joint platform for the Porsche Cayenne and VW Touareg.
VW's CEO Hans Diter Poetsch also defended the synergy plans, saying that the integration of Porsche with its large number of vehicles would offer considerable cost advantages in the luxury cars segment.
Analysts have also questioned whether the cost savings are achievable without large-scale job losses.