Volkswagen continues to exceed all expectations and even has a few surprise announcements. Throughout the month of October, VWC sold a nice double figured number of 10% more then it did in the preceding year. Demand for the reliable and trusted cars, and vans remains strong in the U.S., Europe, and most of all China. Regional sales in China were up a massive 34% from the previous year. The in house van hire brand also continues to be strong.
Although positive sales is to be expected, the real news is that Volkswagen is gearing itself to expand even further. Autoweek has reported that the manufacturing titan is potentially buying a stake in Ferrari, a subsidiary of Fiat.
Volkswagens official stand on the matter is ‘No comment’ However Volkswagen may just be testing the wasters before making any major announcement. Ferrari is the Fiat Groups most well known and profitable brand, and will undoubtedly not allow it to be bought out without a substantial price tag, if at all. Earlier in the year there were also the rumours that VWC were looking to purchase the Alfa Romeo brand, which nothing ever came of.
If a controlling stake in Ferrari were bought under Volkswagen it would become a powerhouse of high end sports cars with Lamborghini, Bugatti and Porsche all taken under the giants wing.
Earlier in the month head of Fiat, Sergio Marchionne, went on to say that he was seeking to raise more capital for the Fiat and Chrysler partnership by selling off a percentage of Fiat, but maintaining a 51% controlling stake.
Volkswagen chairman, Ferdinand Piech, had also previously mentioned the idea of an additional well branded line to the Volkswagen collection. Although, it should be noted that both of these are speculation and no official plans by either VW or Fiat have been announced.
The speculation only makes sense that if Volkswagen has enough capital to throw around, buying up every little brand they please, and that Fiat is looking for a cash boost, it would be a beneficial deal for both.
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Interesting. I bet old Ferdinand is turning over in his grave!