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(Reuters) – Volkswagen (ETR:VOWG_p) advised buyers on Wednesday that its goal of a 6% margin on the VW passenger automotive model was now extra real looking within the “medium time period”, in accordance with a notice by Bernstein Analysis, after the German carmaker beforehand aimed to hit a 6.5% margin by 2026.
The investor name was held earlier than a closed interval on firm data forward of annual outcomes scheduled for March 11.
Volkswagen couldn’t instantly be reached for remark after enterprise hours.
Addressing a cost-cutting deal struck with unions final month that included a promise to shrink the workforce by 35,000 by 2030 with out pressured redundancies, executives advised buyers that they aimed for twenty-four,000 of the roles discount to be achieved by pure attrition and early retirement, Bernstein mentioned.
The carmaker’s name was “barely extra upbeat” than that held by Porsche the earlier night, analysts mentioned, the place executives warned that 2025 can be a difficult 12 months.
Volkswagen mentioned its order ebook in western Europe was barely bigger than earlier than the pandemic at round 850,000 models, the Bernstein notice mentioned.
It anticipated to pay round 1.5 billion euros ($1.56 billion) for non-compliance with EU emissions targets, in accordance with the notice.
($1 = 0.9608 euros)
