Hanover, GERMANY (dpa-AFX) - Most top executives at German automotive
giant Volkswagen can no longer order luxury Porsche sports cars as
their company provided vehicles, as part of a cost-saving effort at
the company.

The policy change was implemented at the beginning of the year, a
Volkswagen spokesman told dpa on Sunday. According to information
obtained by dpa, the policy change affects around 200 managers at the
company.

Only Volkswagen Group board members and executives at Porsche itself
- a subsidiary of Volkswagen - will be able to drive Porsche sports
cars as their company cars, the Bild newspaper reported.

However, the newspaper reported that there have already been lawsuits
filed challenging the restrictions on Porsche company cars at the
labour court in Braunschweig, near Volkswagen's headquarters in the
city of Wolfsburg.

Volkswagen had recently launched an efficiency and savings programme
which is expected to improve earnings by ?4 billion ($4.3 billion)
this year, ?7 billion in 2025 and ?10 billion per year from 2026.

The spokesman did not say how much the company is expecting to save
with the Porsche ban.


Copyright dpa