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According to the AIADA newsletter, Volkswagen is prepared to carry out an epic reduction in its cost structure. Company officials are planning to cut billions of dollars in costs, with "no sacred cows" spared. Engineers have reportedly reduced the production costs of the VW Golf by $1000 and the company will soon start squeezing suppliers until they cry "onkel," and instuting more component-sharing among models. The plan is to increase earnings by 4 billion euros ($4.9 billion) by 2008, including a "pretax improvement" of 7 billion euros ($8.6 billion) at the VW brand.

VW Plans Billions in Cuts to Halt Slide [AIADA]

VW Chief: Unbearable Headlines Damaging Image; Prosecutors Probe Alleged Corruption Scandal at VW s Skoda [internal]