Volkswagen’s Wolfgang Bernhard aims to save €7 billion ($US8.5 billion) in costs at the VW Brand Group in the coming three to four years, Germany’s Manager Magazin reported, citing VW sources, according to Reuters.

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In an advance copy of its Friday edition, the magazine reportedly said that the VW Brand Group chief expects to wring €3 billion from suppliers alone.


At a conference this month in Hanover, he told car parts makers that they had to cut their prices in the coming two years by a total of 10%, it reported, according to Reuters.


The news agency added that VW declined to comment.

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