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>> He first faced the media as Volkswagen CEO on Friday the 13th, a day that's unlucky for some. But it seems Herbert Diess may bring good luck to the German auto giant. First quarter operating profit fell 3.6% to 4.2 billion Euros before interest and taxes. But there's a new optimism about the biggest management shakeup in more than a decade.
Efficiency is the new focus for both the business and the vehicles it produces. Europe's biggest car maker has adopted costly new accounting standards. Without them, its underlying earnings would have beaten last year's. VW's shares rose almost 5%. Investors see Diess pushing profitability while diesel gate risks reduce, but the challenges are still pretty tough.
The group is reorganizing its multiple car brands and carving out its truck operations. All while pumping billions into battery powered and self driving vehicles.