The notorious “Dieselgate” scandal undoubtedly took a toll on the Volkswagen Group, but the German colossus is still going strong.
Some time ago, rumours about Volkswagen shifting away from its “empire-building” era and reviewing its assets surfaced, suggesting that the company would get rid of non-core, expandable businesses which weren’t profitable even before the scandal, targeting Ducati in the process.
However, a company official was quick to debunk the claims at that time, and now, more than a year after’s Volkswagen’s misconduct, the car maker is still not considering selling any of its brands in order to cope with the increasing costs of the scandal.
“The Volkswagen Group is financially solid and has many options for financing. And that is without extraordinary measures such as a capital increase. That is not being considered at this time. We are also not thinking of selling parts of our brands,” Poetsch said in an interview with German newspaper Boersen-Zeitung.
According to Automotive News, Volkswagen’s rainy day fund adds up to 17.8 billion euros ($19.8 billion), with Poetsch indicating that should be enough to pay for the company’s scandal-related costs:
“The items that seem most likely are reflected in the provisions made so far. From today’s point of view, that is robust”.