Another day, another page written in VW’s “Dieselgate” Scandal, as the carmaker is allegedly ready to sell some of its assets if it will stall on the 20 billion euro ($21.1 billion) credit loan it took.
Reuters reports that Europe’s largest car maker is under pressure to strengthen its finances, as it will be forced to sell assets if it doesn’t find another way to repay the one-year, multi-billion euro loan secured from 13 banks.
To top it off, the news site’s unnamed sources apparently stated that, under the terms of the loan, Volkswagen assured the lenders it would sell or list assets worth significantly more than 20 billion euros, if it doesn’t manage to find other sources of money.
Although Volkswagen declined to comment on the matter, one of the two sources said that “Volkswagen may also consider divesting luxury car brands Bentley and Lamborghini or motor bike brand Ducati, although these units don’t really move the needle.”; while the other mentioned that “No specific assets have been discussed”.
Still, you should take this info with a grain of salt, as Volkswagen has many other subsidiaries (like the non-truck parts of MAN) to throw under the bus, if things do turn from bad to worse. Furthermore, the Wolfsburg-based car maker has some additional plans dedicated to cutting costs. That said, it’s highly unlikely (or senseless, for that matter) for the company to get rid of the most valuable marques in its portfolio.