In spite of the worldwide model offensive and the associated product range expansion, Volkswagen has kept its fixed costs stable. The Pact for the Future, which was entered into a year ago, has contributed to increasing competitiveness. It stipulated that savings and efficiency improvements in all divisions and locations reach a positive result to the tune of €3.7 billion annually starting in 2020. A total of €1.9 billion has been reached since the Pact for the Future began a year ago, and additional concrete measures are in the process of being implemented. Volkswagen is also making progress with regard to the reduction of jobs in a socially responsible manner. So far in 2017 there has been a reduction of 3,800 jobs. The target set within the scope of the Pact for the Future for a total of 9,200 signed part-time retirement agreements to be effective incrementally by 2020 is expected to be attained by the end of this year. In addition, the 7.5 percent increase in productivity aspired to at the German locations for 2017 was largely achieved. “We will continue on this course of action in order to boost and secure the level of returns over the long term − even though the cost of reaching stricter CO2 targets and our expenditures for investments in the future are expected to increase substantially in the coming years,” says chief financial officer Arno Antlitz.