A German business publication published a report this week claiming that Volkswagen won’t meet its 2015 profit goals, in part due to the costs associated with the new MQB modular platform.
Manager Magazin said that MQB’s costs (pegged by Morgan Stanley at around $70 billion), as well as decreased profitability of the next-generation Touran minivan and Tiguan SUV would reduce VW Group’s overall profits. VW’s CFO Hans Dieter Poetsch is also said to be looking to cut costs by as much as 1,000 euro per vehicle.
Volkswagen released a statement refuting the claims of Manager Magazin, stating
The speculation in the latest Manager Magazin article is without any foundation. The suggested impression that Volkswagen does not stick to its targets any more is wrong. Volkswagen Aktiengesellschaft remains fully committed to its statements on the future business development of the Group. This was stated by the Volkswagen Group on Thursday.