Volkswagen Group Responds to Reports of Potential Brand Sales

The Volkswagen Group has issued a statement in response to reports that it may sell some of its brands, including Ducati and potentially transitioning Lamborghini to a publicly traded company. The statement does not deny the rumors, instead emphasizing that all brands under the corporate umbrella must ‘transform profoundly’ and that the company’s business model ‘no longer works.’ This comes after Porsche sold its stake in Bugatti Rimac, marking the end of an era for the brand. The VW Group has also announced plans to sell its majority stake in the Everllence marine diesel engine business, raising around €7.4 billion, and is considering shutting down four factories and cutting 100,000 jobs. The company’s organizational overhaul is underway, with a focus on raising funds for a stronger future. While nothing is official until confirmed, the signs point to a significant transformation for the VW Group.