No Price Pressure from VW, Supplier Continental Says

BERLIN, Nov 9 (Reuters) - German auto parts and tyre maker Continental has no signs that Volkswagen will push price cuts to help mitigate the costs of its emissions scandal.

"We have not yet been given a concrete number (for cost savings) by Volkswagen," finance chief Wolfgang Schaefer said in an interview on Monday. "Our talks with VW are running as always."

Europe's largest carmaker will try to extract 3 billion euros in price cuts from its suppliers as it reduces spending to help it shoulder costs of the scandal, Germany's Handelsblatt newspaper reported last month.

Every company needs to set up a "corporate culture" that promotes transparency on decisions to avoid sliding "into a situation as happened at VW," Schaefer said, without being more specific.

VW, one of Continental's five largest customers by sales which buys engine-control parts and safety systems from the Hanover-based firm, is financially "very well positioned," the CFO said.

Separately, he said he expected car production in China, the United States and Western Europe to keep growing next year, adding this may spur 2016 business at Continental, which posted higher third-quarter results on Monday.

"If auto markets keep growing (in 2016), then this should also be a good basis for us for growth," Schaefer said. (Reporting by Andreas Cremer; Editing by Maria Sheahan)

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