“We have a good chance of shining again in two to three years,” the executive told managers gathered at a meeting in Germany, as quoted by Reuters. “Our competitors are only waiting for us to fall behind on technology matters because we are so preoccupied with ourselves. But we won’t let that happen.”
The automaker was already struggling to improve profit margins and performance in key markets long before the diesel fiasco surfaced. Now the company appears to have even more reason to hasten the planned restructuring efforts.
Mueller suggests the automaker needs to focus on streamlining operations and reworking decision-making processes, giving more autonomy to individual brands and regional divisions.
“We must become leaner and take decisions more rapidly,” he added.
The restructuring plan must be adapted to cover the costs associated with the emissions crisis, forcing the company to slash certain projects and cut costs. Several analysts expect government fines, repairs and lawsuit settlements to reach between 30-35 billion euros (~$34-40 billion USD).
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