The
works council of carmaker Volkswagen AG is urging the group to shift its investment
focus according to a report in the German business newspaper, Handelsblatt.
In an interview with the VW works council chairman, Klaus Volkert, he is reported
as saying that the ‘scope for pursuing prestige projects was shrinking’.
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It is understood that Volkert is particularly sceptical about further investment
in luxury cars, although he stands by current investment plans.
The Handelsblatt report says that Volkert ‘approves’ of the overall strategy,
but believes that individual models, such as the ‘small’ Bentley ‘could be postponed
without problem’.
Volkert also struck a cautionary note on new chairman Bernd Pischetsrieder’s
possible VW Formula 1 ambitions claiming that ‘because Pischetsrieder has a
soft spot for fishing, that doesn’t mean anyone is thinking of opening a salmon
farm.’
However, he cited a more acquisitive attitude to the components sector and
the setting up of an early retirement ‘social budget’ as key areas that would
be pursued with the new chairman.
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By GlobalData
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