VW profit soars to 869m euros as cost cuts kick in

Berlin

VOLKSWAGEN said profit at its troubled core division soared in the first three months of the year, a sign that long-overdue cost cuts are having an impact as the carmaker seeks to move beyond its diesel emissions crisis.

VW, Europe's biggest carmaker, is aiming to beat rivals for profitability rather than chasing sales volumes through aggressive pricing as it invests billions of euros in electric cars, new mobility services and self-drive technology.