Berlin — Volkswagen (VW) said profit at its troubled core division soared in the first quarter, a sign that long-overdue cost cuts are materialising as the car maker pushes a post-dieselgate strategic shift. First-quarter operating profit at VW’s largest division by sales surged to €869m from €73m a year earlier, the car maker said on Wednesday, joining rivals Daimler and BMW, which have also reported better than expected quarterly results. Structural changes since the diesel emissions scandal broke in 2015 include streamlining vehicle development, cutting material costs by reducing complexity in parts, dropping unprofitable models and shifting more power to brands and regions to respond more quickly to market needs.
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