Volkswagen has no plans to sell brands, raise capital

by SpeedLux
Volkswagen logo

Volkswagen is ruling out the sale of any of its brands or a capital boost to cope with the costs of the emissions scandal, its supervisory board Chairman Hans Dieter Poetsch informed German daily Boersen-Zeitung.

“The Volkswagen group is economically strong and has many options for funding,” Poetsch stated in the interview.

“And that is without remarkable procedures such as a capital boost. That is not being thought about at this time. We are also not thinking of selling parts of our brands,” he added.

Volkswagen has reserved EUR17.8 billion ($19.8 billion) to spend for costs related to the global emissions cheating scandal. The automaker deals with civil litigation and potential fines from government regulators in the EU and other places.

Poetsch suggested that he did not anticipate further provisions to be required.

“The products that seem most likely are reflected in the arrangements made so far. From today’s perspective, that is robust,” he informed Boersen-Zeitung.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

SpeedLux

SpeedLux is a high-authority automotive blog providing the latest automotive news and reviews. SpeedLux covers everything related to cars, bikes, and motorcycles, from news and reviews, to troubleshooting guides, tips and tricks, and more. SpeedLux was born in 2009 and we have over 20,000 articles published on our blog. We thank all our readers, as well as our partners, without whom we could not have reached this level.

Subscribe

©2009 – 2024 SpeedLux – Daily Automotive News and Reviews. All Right Reserved.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More