Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Xetra  >  AUDI AG    NSU   DE0006757008

AUDI AG

(NSU)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

VW's German plants need to shape up, says production chief

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/08/2019 | 06:15am EST
FILE PHOTO: Final checks on an e-Golf electric car at a VW plant in Dresden

Volkswagen's German plants need to boost efficiency to match overseas operations, production chief Andreas Tostmann was quoted as saying, targeting 2 billion euros (1.6 billion pounds) in savings by 2023.

German carmakers, including Volkswagen's Audi brand, have announced thousands of job cuts in recent weeks to address an expected 5% drop in global auto sales this year, with declines likely to spill into 2020.

"The pace of improvement is better abroad. In Germany, despite all the successes we've achieved, we have to do better," Tostmann told trade journal Automobilwoche.

Tostmann wants to implement the savings in the production of VW branded cars through a bundle of measures on top of automation, including a leaner logistics operation.

"The result is that we need 15% less space, 60% fewer logistics vehicles and are able to move 20% more product," said Tostmann, according to extracts from his Automobilwoche interview.

VW's luxury Audi division last month said that it would cut up to 9,500 jobs, equating to 10.6% of total staff, by 2025 in a move to free up billions of euros to fund the shift towards electric vehicle production.

Rival Daimler as well as car suppliers Continental, Robert Bosch [ROBG.UL] and Osram have also recently announced staff and cost cuts.

(Reporting by Douglas Busvine; Editing by David Goodman)

Stocks treated in this article : AUDI AG, Volkswagen AG, OSRAM Licht AG, Continental AG
Stocks mentioned in the article
ChangeLast1st jan.
AMS -1.54% 42.83 Delayed Quote.10.47%
AUDI AG 0.00% 808 Delayed Quote.1.00%
CONTINENTAL AG -0.71% 112.44 Delayed Quote.-1.75%
OSRAM LICHT AG -0.07% 45.77 Delayed Quote.3.74%
VOLKSWAGEN AG -0.14% 181.76 Delayed Quote.3.28%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AUDI AG
01/17AUDI AND FC BAYERN HEADING TOWARD TH : 'Linking of two strong brands that stand ..
AQ
01/16VW CEO says carmaker faces same fate as Nokia without urgent reforms
RE
01/16AUDI AND CROMODORA : cooperation for a sustainable and cost-effective wheel plan..
PU
01/16AUDI : Cromodora Reach Agreement on New Wheel Plant in Eastern Europe
DJ
01/14EXCLUSIVE : Lebanon's Bank Audi open to sale of Egyptian unit with right offer -..
RE
01/14AUDI : and FC Bayern heading toward the future together
AQ
01/13More than 400,000 German jobs at risk in switch to electric cars - Handelsbla..
RE
01/10Global passenger car sales by luxury brand
RE
01/10Soaring SUV sales keep carmakers on collision course with climate policy
RE
01/09Mercedes set to retain luxury car sales crown
RE
More news
Financials (EUR)
Sales 2018 -
EBIT 2018 -
Net income 2018 -
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019 -
Capi. / Sales2018 -
Capi. / Sales2019 -
Capitalization 34 744 M
Chart AUDI AG
Duration : Period :
AUDI AG Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AUDI AG
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 808,00  
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers
NameTitle
Abraham Schot Chairman-Management Board, CEO & Head-Sales
Herbert Diess Chairman-Supervisory Board
Alexander Seitz CFO, Head-Finance, China, Compliance & Integrity
Bernd Martens Head-Procurement & Information Technology
Hans-Joachim Rothenpieler Head-Technical Development
Sector and Competitors
1st jan.Capitalization (M$)
AUDI AG1.00%38 506
SAIC MOTOR CORPORATION1.26%41 090
FERRARI5.07%32 223
MARUTI SUZUKI INDIA LTD1.10%31 676
FIAT CHRYSLER AUTOMOBILES-5.58%21 643
BYD COMPANY LIMITED23.91%21 193