A top VW executive has stressed the need for Volkswagen to be cost competitive in an address to employees.
Dr. Arno Antlitz, Volkswagen brand board member for accounting and controlling, told 18,000 employees that Volkswagen was not immune to the crisis in Europe.
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“We need solid earning power and a competitive cost position,” Antlitz said, adding that there was therefore a need for further belt-tightening over the coming months at all levels, in all departments, in all regions and at all plants – “without jeopardizing the market success of our vehicles.” At the same time, work on internal processes and structures would continue, he said.
He also told employees that the Volkswagen Group continues to hold its own well in the market despite the challenging conditions. “Our broad international presence is a key competitive advantage at times like these. We are expanding this strength further,” he said.
Antlitz said that Volkswagen could act from a position of strength. “And we are able to invest record sums in our future projects in spite of the crisis,” he maintained.
He also reiterated that Volkswagen remained committed to its investment programme. “That is what strengthens our competitiveness and lays the foundations for taking Volkswagen to the top.”
Last week, an article in influential German publication Manager Magazin suggested that VW Group will miss future financial targets. VW issued a terse official statement in response:
“The speculation in the latest Manager Magazin article is without any foundation. The suggested impression that Volkswagen does not stick to its targets any more is wrong. Volkswagen Aktiengesellschaft remains fully committed to its statements on the future business development of the Group.”
