FRANKFURT (Reuters) – German carmaker Volkswagen has issued internal targets to improve the profit margin for sales from its VW car business to 6.5%, up from about 2% previously reported, news website Business Insider said, citing documents it obtained.
While the margin target has no specific deadline, it is part of a set of goals for 2025 to improve costs and performance at the group’s core car brand, the report added.
Volkswagen group, whose other brands include Porsche, Audi, Skoda and Seat, did not immediately respond to a request for comment.
Based on the company’s latest financial report, the VW car brand had an operating margin over sales of 2.1% during the first nine months of 2024, or 3% when adjusted for special items.
(Reporting by Ludwig Burger; editing by Barbara Lewis)
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