UPDATE 1-VW brand should beat 5 bln euro cost-cutting goal - labour chief

jueves 29 de enero de 2015 11:02 GYT

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By Andreas Cremer

WOLFSBURG, Germany, Jan 29 (Reuters) - Volkswagen should be able to cut costs at its troubled passenger car brand by "substantially more" than the 5 billion euros ($5.7 billion) planned by the German carmaker's top management, its works council chief said.

"With a bit more discipline one would easily be able to generate more efficiencies," Bernd Osterloh, Volkswagen's (VW) top labour representative, told reporters on Thursday at the carmaker's base in Wolfsburg, Germany.

Across the multi-brand group, the potential for savings is even bigger, he said, without elaborating.

Europe's largest automaker announced plans in July to cut 5 billion euros of costs at its core VW division by 2017 to close a profitability gap with rivals such as Toyota.

Yet the division is working on a new version of its loss-making Phaeton saloon, which some analysts say contradicts the savings drive.   Continuación...