Volkswagen Board Puts The Brakes On Rumours Of Ducati Sale
In a story that has seen it's fair share of twists and turns, it now seems Volkswagen's board has put the brakes on rumours circulated by Reuter's sources that Ducati would be up for sale.
The rumours gained traction around June when articles surfaced detailing that Harley-Davidson had hired Goldman Sachs to work on a takeover bid for Ducati.
In more recent findings however, Reuters now claim Volkswagen's supervisory board, which holds an equal split between corporate management and workforce representatives, sees no reason to initiate the sale.
"The employee representatives on Volkswagen’s supervisory board will neither approve a sale of Ducati, nor one of Renk or MAN Diesel & Turbo," a spokesman for VW group’s works council told Reuters. "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."
Ducati had sales of €593 million (£530 million) in 2016 with 55,451 units sold, a sales growth of 1.2% on the previous year. The report adds that the sale didn't have the support of the Porsche or Piech families, who own a controlling 52% voting share in Volkswagen.
The speculation of Ducati's future under the German carmaker has been plentiful since the diesel emissions tests scandal that affected as many as 11 million diesel vehicles worldwide.
Harley-Davidson weren't the only brand believed to be interested in Ducati; Bajaj Auto, Eicher Motors and Hero Motorcorp were also in the running.