According to a report issued by German media, Volkswagen is interested in purchasing Fiat.

According to a report issued by German media, Volkswagen is interested in purchasing Fiat.

If we were to believe German publication Manager Magazine, the Volkswagen Group wants to add another member to its ever growing portfolio. Apparently, they are now interested in Fiat and have already discussed with the Agnelli family that essentially controls the Italian brand. It is believed Fiat's owners want to quit the volume segment in order to better focus on Ferrari.

In recent years, Volkswagen has expressed its interest several times in purchasing Alfa Romeo but Sergio Marchionne said the brand is not for sale. At the moment Fiat is busy finalizing the merger with Chrysler in the United States so it's probably not the right time for such a major business deal.

Automotive News Europe contacted Fiat but a spokesman refused to comment while a source within the Italian company said Fiat is not aware of a meeting with representatives of the Volkswagen Group.

Volkswagen eyeing Fiat purchase - report