VW Brand CEO Says More Work Needed in Turnaround Effort

Volkswagen AG needs to keep up its efficiency drive this year as the automaker confronts muted sales in the US and rising competition in China, according to one of its top executives.

Cost-cutting efforts must continue, VW brand boss Thomas Schäfer said Wednesday in Wolfsburg, Germany. He was speaking at the company’s first workers’ assembly of the year, an event that also included Chief Executive Officer Oliver Blume.