The company's financial results are good, it needs no more money at the moment.

Volkswagen is still undecided whether it should sell motorcycle manufacturer Ducati or not in the wake of the auto industry’s largest scandal, the Dieselgate. The majority of members in the company’s supervisory board currently are not backing a possible sale of the Italian brand.

Back in April this year, Europe’s largest manufacturer started contacting potential buyers of Ducati and tasked banks to evaluate options for possible deals. The decision was part of VW’s plans to review its portfolio of brands and assets following an announced multi-billion investment into faster shift to electric vehicles.

Read also:

According to Reuters, during the process, five bidders have been shortlisted, including Italy's Benetton family. Received offers valued the brand between €1.3 billion-1.5 billion (about $1.52 - 1.76 billion). However, half of VW’s 20-member supervisory board is not accepting a sale of Ducati, alongside transmissions maker Renk, without compelling financial reasons.

"The employee representatives on Volkswagen's supervisory board will neither approve a sale of Ducati, nor one of Renk or MAN Diesel & Turbo," VW spokesman commented to Reuters late on Saturday. "Everyone who can read the VW half-year results should know: We don't need money and our subsidiaries are not up for grabs by bargain hunters."

And, indeed, VW’s six-month financial results show the company doesn’t need more money at the moment. Operating profit at the manufacturer jumped 19 percent to €8.9 billion. Given that, and the supervisory board’s strong opinion, Volkswagen is now reviewing its plan to sell Ducati.

Technically, Ducati is owned by Audi, but the German premium brand needs an approval from its parent company to sell the motorcycle brand. Audi declined to comment on the topic. Volkswagen finance chief Frank Witter also declined any comment on "speculation" surrounding VW's asset sales plans.

Source: Reuters

Be part of something big