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11/17/17
Wolfsburg
Company

Positive interim assessment after one year of pact for the future

  • Pact for the future on track for success one year after conclusion of agreement
  • €1.9 billion of efficiency savings achieved in 2017
  • Personnel transformation and job reduction via partial early retirement proceeding to plan

The Volkswagen brand is on track for success with the pact for the future. This is the interim assessment given by the Board of Management and the General Works Council 12 months following the signature of the agreement. To date, €1.9 billion of efficiency savings have already been achieved, corresponding to 96 percent of the target set for 2017. As regards partial early retirement, Volkswagen is also on the right track, having already reached 94 percent of the target for 2020. The pact for the future lays the foundation for the Volkswagen brand's "Transform 2025+" strategy. From 2020, this strategy is to have a positive impact of €3.7 billion per year on earnings and to make the brand significantly more efficient and competitive.

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