Currently reading: VW Group CEO campaigns against costs as profits drop 37%

Oliver Blume says the Volkswagen Group "must address all cost categories" as part of turnaround plan

Volkswagen Group CEO Oliver Blume has issued a frank warning to shareholders that the company must take urgent steps to become more cost-efficient and agile.

Speaking at the company’s AGM in Wolfsburg, Blume acknowledged early progress in the company’s restructuring strategy but stressed that inefficiencies continue to hamper its financial performance.

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