Daily Management Review

Volkswagen will cut production of mass models


Volkswagen Group to reduce its lineup of gasoline and diesel cars.

Volkswagen Group will focus on luxury cars as part of its plan, according to the Financial Times, citing the company's CFO Arno Antlitz.

"By the end of the decade, Volkswagen will phase out a dozen models with internal combustion engines and sell fewer cars altogether in order to focus on developing more profitable premium automobiles," the newspaper reported.

Volkswagen has also adjusted its strategy, according to the Financial Times, due to a severe shortage of chips on the market.

source: ft.com