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Old 17th June 2016, 11:35   #1
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Default Rumour: Volkswagen Group might sell Ducati, Scania and MAN

If media reports are to be believed, the Volkswagen Group is mulling over plans to sell Ducati, Scania, and MAN. This decision to sell the three brands might be taken in the backdrop of the company paying €16.2 billion worth of fines and expenses in lieu of the infamous dieselgate emission scandal.

The Volkswagen Automotive Group (VAG) currently owns 12 brands, including Audi, Bentley, Bugatti, Ducati, Lamborghini, MAN, Porsche, Scania, SEAT, Skoda, Volkswagen, and VW commercial vehicles. But with dieselgate defaming the group and plummeting profits, the company now seems to be adopting a defensive outlook.

Though VAG had earlier set aside funds amounting to around $ 18.2 billion in order to cover the losses, fines, and recall costs, selling off brands appears to be the only way forward for the group to refill its fund accounts.

The auto giant is also focusing on the electric vehicle segment in order to cap the market before demand rises. Moreover, in order to minimise manufacturing costs, all component manufacturing tasks would be assigned to a single entity for all companies of the Volkswagen Automotive Group.

Source: Bloomberg

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