Prestige cars too expensive says VW chairman

The chief executive of Volkswagen, Bernd Pischetsrieder, has branded cars made by VW Group owned Audi and other prestige brands as too expensive.

According to the Financial Times, Pischetsrieder described product from his company's most profitable division as “a complete waste of money”. Pischetsrieder also reportedly fired a broadside at rivals Mercedes Benz and BMW. saying the same performance was available from cheaper models.

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