VW capex cuts skirt core initiatives and key concerns

Volkswagen Group's spending plans have come under review as the defeat device debacle continues. With no clear end in sight to the problem, it's scope, or its full cost, the OEM is reining in expenditures, cutting €1bn (US$1.07bn) from next year's planned allocation for property, plant and equipment spending from €13bn to €12bn. “We are operating in uncertain and volatile times and are responding to this,” explained Chief Executive Matthias Müller.