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The nightmare that is Dieselgate doesn’t seem to be going away soon for Volkswagen AG (VW). From an unconfirmed report in the Detroit Bureau, a VW official has confirmed that the embattled German manufacturer is considering selling off some of the big brand names in its stable, such as Scania, Man and Ducati.
This sale would take the form of an IPO, or perhaps a direct sale. This proposition, if approved, would be in an effort to cover the increasing costs of the Dieselgate recall, which includes engine software recalls, engine modifications and the possibility of non-compliant diesel vehicle buy-backs. “We’re keeping all options open in regards to expanding overseas, about a possible takeover as well as about a stock market listing,” said the un-named VW spokesperson.
No timeline was given about VW making such a decision, but reports have suggested that VW was considering the possibility of letting its truck business go before the Dieselgate scandal broke. Financial analysts say VW’s truck divisons could be worth as much as USD13.5 billion. This would would go a long way to covering the cost of Dieselgate, which some have estimated to be as much as USD55 billion.
It has been reported that VW has USD7 billion to cover the intial costs of recall and rectification for its non-compliant diesel vehicles and engines, and a further USD20 billion is on tap from European banks. There is information that suggests if this sum is insufficient, its motorcycle brand Ducati may have to be put on the market.
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Kalu aku kaya…….. ad duit 2.6b. Akan ku beli MAN.
Klapa hotak. If got money shud by Scania. MAN is dead in MY. Try see on hiways its dominated by Scania & Volvo trucks.
RM2.6b tak cukup..at least USD10b
proton gonna buy Ducati??
modenas buy ducati?
Reminds me of Monopoly.. step onto a wrong spot, and you’ll have to sell your houses and mortgage your expensive plots just to keep going..
I was talking to my kolik some 4 weeks before & I did mention VW might divest their non-core brands (ie not passenger cars) to raise enuff money for the epic fines.
If fall short, they might sell their stakes in China or SEAT/Skoda. The high end marque might be last cuz the high profit margins it brings is too valuable.
Imagine what would happen to Proton if VW bought them. They will be the first to be sold and no one wants to buy.
Highly unlikely as tanjung malim wud be considered as their low cost manufacturing hub. They wud save more money concertrating there than spread out here and there and also CBUing from EU
Wak nak beli ducati khas untuk 1 division baru special buat ceketeng sahaja.
After “swallowing” FUSO, Daimler could be eyeing on Scania; as it would give Daimler a huge boost in market share of this area and put a good fight to Volvo.
Or maybe Volvo Trucks eyeing Scania too.