--Germany's Volkswagen AG plans to concentrate on more profitable, premium vehicles, the Financial Times reports, citing the auto maker's chief financial officer Arno Antlitz.

--The car maker, whose brand portfolio includes Audi and Porsche, also wants to scrap many combustion engine models by the end of the decade, reports the FT.

--"The key target is not growth," CFO Antlitz is quoted as saying by the FT. "We are [more focused] on quality and on margins, rather than on volume and market share."

Full story: https://on.ft.com/3LMM6MO

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

April 06, 2022 02:51 ET (06:51 GMT)

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