- Volkswagen (VLKAY) is planning to tighten spending sharply as it deals with fall-out from its diesel emissions cheating scandal, sources told Automobilwoche.
- CEO Matthias Mueller in an internal meeting demanded that material costs and overheads be cut by 10% as part of the company's annual budget round for 2017. "They will be heavy and it won't be done without pain," he said.
- 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.