Volkswagen to cut investments by 1 billion euro to cope with scandal

October 13, 2015 9:40 AM

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Volkswagen to cut investments by 1 billion euro to cope with scandal

BERLIN Volkswagen (VOWG_p.DE) will trim investments at its biggest autos division by 1 billion euros ($1.14 billion) a year and accelerate its cost-cutting program to cope with costs related to the group's diesel emissions scandal unleashed last month.

The carmaker also said on Tuesday it would overhaul the model strategy at its namesake brand.

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