Drees: We changed a lot in recent years and made a lot of improvements, but we want more. — Bloomberg
FRANKFURT: Volkswagen AG’s (VW) MAN unit is sticking to a profitability target it fell short of for years amid painful cost-cutting, underscoring the ambitious goal of the German automaker’s truck division to generate industry-leading returns as it prepares for a possible share sale.
MAN still aims to generate an operating profit margin of about 8% even as some business areas like smaller vehicles or buses are unlikely to achieve that level, chief executive officer Joachim Drees said in an interview at the biannual commercial vehicle show in Hanover, Germany.
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