Mexican Media Brands
VW Eyes Selling Assets that Deliver 20% of Its Revenue
Volkswagen AG aims to sell noncore assets that currently generate about 20% of the company’s current revenue, CEO Matthias Mueller tells The Wall Street Journal.
#economics
Share
Volkswagen AG aims to sell noncore assets that currently generate about 20% of the company’s current revenue, CEO Matthias Mueller tells The Wall Street Journal.
Mueller wasn’t specific. But he emphasizes the company is intent on moving forward with targeted asset sales. “We’re not going to let anyone tell us which decision to make,” he declares.
VW is nearing such a decision on motorcycle maker Ducati Motor Holding SpA. The company reportedly has attracted as many as five would-be bidders.
Mueller dismisses reports that talks to sell Ducati have stalled. He claims the negotiations are merely complicated by VW’s governance structure, which involves the state of Lower Saxony ( a major shareholder) and Germany’s IG Metall trade union (which controls half the carmaker’s board seats).
Mueller also is coy about suggestions by some investors that VW should consider spinning off such brands as Audi and Porsche. He acknowledges “we discuss these things” but declines to elaborate.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.
-
China and U.S. OEMs
When Ford announced its 3rd quarter earning on October 24, the official announcement said, in part, “Company revenue was up 3 percent year over year, with net income and company adjusted EBIT both down year over year, primarily driven by continued challenges in China.” The previous day, perhaps as a preemptive move to answer the question “If things are going poorly in China, what are you doing about it?, Ford announced that it was establishing Ford China as a stand-alone business unit.