Volkswagen to face investor grilling on China, costs at capital markets day

Volkswagen will face investors hungry for answers at its capital markets day next Wednesday on how it will achieve high cost-cutting targets and whether it will heed their calls for an independent audit of its co-owned Xinjiang plant.

"The 21 June CMD is an opportunity to reset a fraught relationship with investors, a challenging exercise," Jefferies wrote in a note on Friday. The Porsche-Piech family, who own 31.9 per cent of Volkswagen, are expecting Blume to begin replicating his success from Porsche at Volkswagen, a source close to the families said, with the caveat that a multi-brand group cannot achieve the same margins as a luxury player.

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