DRESDEN, Germany (Reuters) - Volkswagen AG (DE:VOWG_p) Chief Executive Martin Winterkorn said Europe's largest carmaker would definitely be able to improve its results by 5 billion euros by 2017 as planned, according to a person close to management thinking who attended a conference on Thursday where Winterkorn was speaking.
VW is seeking to cut 5 billion euros ($6.1 billion) of costs by 2017 at its main car division where profit margins have languished amid a proliferation of models.
Some of the improvements should come through efficiencies and leaner management and include, for example, cutting back management meetings, said the person, who declined to be named because he is not authorized to speak to media.
Winterkorn spoke to around 2,000 VW managers in the German city of Dresden at a closed-door strategy conference on Thursday.
(Reporting by Andreas Cremer and Jan Schwartz; Writing by Thomas Atkins; Editing by Maria Sheahan)