Volkswagen shuts the door for Ducati’s sale.
The board says that they don’t need any money now.by Sagar, on
For the past few months, there were a ton of speculations about Volkswagen being on the heels to sell Ducati, and many major players were prying on them. With what we beleived might be a new chapter in Ducati’s history books, courtesy the Volkswagen Diesel Gate scandal, Volkswagen’s supervisory board begged to differ otherwise.
The board includes an equal split between corporate management and workforce representatives which have cumulatively voted out of this situation and threw all considerations of selling any brands under its portfolio to the bin.
A VW representative supposedly told Reuters " The employee representatives on Volkswagen’s supervisory board will neither approve a sale of Ducati, nor one of Renk or MAN Diesel & Turbo. 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."
Owned by AudiAg via Volkswagen, Ducati has created 90 years of passion, emotions and excellence. The history of Ducati is driven by a unique engineering talent that has always generated motorcycles of unmistakable design and most profound sporting spirit. These years have a long tale of events and facts making the brand one of the most iconic motorcycle manufacturer history will ever know.
Yet, VW was said to have forced to let go of such a historic brand from under its umbrella due to the hot soup it got itself caught with. VW/Audi had bought Ducati in a $ 750 million deal back in 2012, and everything was going great until the Diesel Gate scam rocked VW badly. This led to VW paying hefty fines and incur massive losses to the tunes of multi-billion euros to recuperate their mistake, and this cost them dearly.
They had to stop all technological developments and lay off thousands of jobs to streamline their financial situations. In this process of realignment of financial strategies, it was reported that VW was considering to chop off a few brands from its arms and sell them to potential buyers, one being Ducati.
But now, all of those speculations have been nutralized by VW. Apart from Harley Davidson and KTM, there were other buyers also interested in investing here. Polaris, Royal Enfield, the Japanese Trio to name a few.