He also said this was happening at a time when ideally the company should spend its money on dealing with the structural change in the automotive industry. The diesel emissions scandal is costing the company billions of euros and has prompted ongoing talks between management and employees on a cost cutting deal for the core VW brand.
VW's supervisory board is scheduled to meet on Nov. 18 to approve new spending targets on products, plant and equipment for the coming years, two company sources have said.