Volkswagen Cuts Investments by €1 Billion in 2016, Delayed Phaeton Was an EV - Video

Volkswagen's management board usually meets this time of the year to discuss Christmas bonuses and trending vacation sports. But the new CEO, Matthias Muller, has sobering news for us today, as the biggest carmaker in Europe will cut "investments in property, plant and equipment, investment property and intangible assets, excluding capitalized development costs (capex)" to €12 billion, down one full billion euros ($1.1b) compared to previous target... (continue reading >>)