May 5, 2017 / 8:07 AM / a year ago

VW brand targets productivity gains through 2020

WOLFSBURG, Germany, May 5 (Reuters) - Volkswagen has set itsef fixed targets for raising productivity at its troubled core division through 2020 by pushing cost savings, stemming overseas losses and launching more higher-margin cars.

Volkswagen’s namesake VW brand is targeting an operating margin at the upper end of a 2.5 to 3.5 percent range this year, with revenue expected to exceed 2016 levels by around 10 percent, the carmaker said on Friday.

Europe’s biggest carmaker said it expects its largest division to continue to improve financially over the course of the year after a strong first quarter, and will increase guidance on key targets if necessary. (Reporting by Andreas Cremer; Editing by Georgina Prodhan)

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