New Delhi, April 30 -- Volkswagen has cut headcount in Germany by around 7,000 since starting its cost-cutting drive in late 2023 and reduced factory costs at the key VW brand, its CFO said on Wednesday on a call following its first-quarter results.

"Rest assured that we continue to drive implementation of the agreed measures with full force," CFO Arno Antlitz said.

Europe's largest carmaker Volkswagen said Wednesday that first quarter profit plunged due to higher costs as it warned of muted business for the rest of the year in the wake of trade tensions.

Net profit fell 40.6 percent in the first three months of the year to hit 2.19 billion euros ($2.49 billion) even as revenue rose three percent to reach 77.56 billion euros.

The 10-b...