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Volkswagen Group said it will complete strategic adjustments to its brands within the year to reduce operating costs and improve overall profitability, according to European Automotive News.

Volkswagen Group is re-examining the development of its brands and is expected to start adjusting in the second half of the year. As far as Volkswagen Group currently owns 12 brands including passenger cars and commercial vehicles, these brands are very important to Volkswagen Group.

Although there have been reports that Volkswagen Group may sell Porsche, Skoda and other brands, Volkswagen has denied these reports. Because Porsche brand is very important to the development of Volkswagen Group, although 80% of the model platform technology used by Porsche brand models comes from Audi, Porsche brand's high profit margin of 17.5% is still the leader among Volkswagen Group brands. Skoda is very similar to Porsche, which is also the shared characteristic of its brand technology, thus ensuring the cost reduction and profitability improvement of the whole Volkswagen Group.

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