VW Group to stop expansion

Martin Winterkorn - VW Group CEO

The biggest car producer in the world, Volkswagen, has announced that it has no more interest in expanding, therefore buying other brands. After purchasing a 19.9% stake in Suzuki and a 49.9% stake in Porsche in the last months, VW’s CEO Martin Winterkorn said that he has no more intentions of acquiring stakes in other brands.

The group already owned Audi, Bentley, Bugatti, Lamborghini, Seat, Skoda and VW so after their recent stakes is Suzuki and Porsche we could say that the already have 9 brands in their portfolio. That is impressive. Winterkorn told to a German magazine that he was satisfied with the group’s line-up. He also admitted that he had offers from other brands which wanted to integrate in the VW Group but that he didn’t feel the need to add them to the company.

Another interesting thing is that VW recently bought bankrupt coachbuilder Karmann and their production facility. The plan is to build the Porsche Boxster there. The Boxster was actually set to be built in Austria, by a company called Magna Steyr. We apologize for not covering that news but we can now inform that the Magna deal failed and VW went to buy the bankrupt coachbuilder and its production facility in order to have a place for the production of the Boxster.

Source: Autocar

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