MUNICH, March 25 (Reuters) - German trucks and engineering group MAN said on Tuesday it was aiming to cut costs by 200-250 million euros ($214-268 million) over the next few years as it battles with a weak economy.
MAN Chief Executive Rudolf Rupprecht told the group's annual news conference the cuts should be achieved by around 2005.
MAN said earlier it had started the year with a slight increase in sales but a drop in new orders, hit by weak business in its main domestic market.
It is aiming to lift group earnings in 2003, driven by its recovering trucks business, and has said it will cut around 1,000 jobs this year and keep investment spending stable.