GERMANY: VW pre-tax improves greatly
The Volkswagen brand's full year pre-tax profit has risen to about EUR1.6bn from EUR400m a year previously, according to a report.
AFX News said Capital magazine reported the news in an advance excerpt from Thursday's edition.
VW brand sales rose to 3.4m units from 3.1m, the magazine reportedly added, without saying where it obtained the data.
According to AFX News, the report also said the VW brand group plans to continue to reduce its unit production costs. By 2008, it wants to cut spending per vehicle to EUR4,100 from EUR4,475 this year.
VW declined to comment on the report, AFX News noted.
Alos without citing sources, Capital said that VW brand head Wolfgang Bernhard would not attend the Detroit motor show next week and would leave the company at the end of the month, the report added.