Volkswagen cost cuts: supervisory vote seen as clear, Citi says
Citi analysts say it is the clear choice ahead of Volkswagen’s supervisory board vote Friday on the next leg of its cost-cutting plan, noting it would be difficult to defend market share and cash flow without further cuts.
The choice seems clear ahead of Volkswagen supervisory board's vote Friday on the next leg of the cost-cutting plan, Citi analysts write.
Without further cost reductions, the German carmaker cannot defend its 26% EU market share, core brand margins will fade, free cash flow will disappear, and its…