VW Targets More Savings to Keep Up With Intense Competition

Volkswagen AG is gearing up for more cost cuts to respond to competition led by China, with Europe’s biggest carmaker expecting to come under more pressure in its mainstay region.

The manufacturer, also citing tariffs and spending on electric vehicles as a drag on its business, sees an operating return this year of as low as 4%. Extra savings will come on top of plans to shed some 50,000 jobs by the end of the decade.