VW Seeking $21 Billion Cushion To Cover Crisis Costs

Volkswagen AG is working with banks to put together as much as 20 billion euros ($21.5 billion) in short-term bridge financing to show that the automaker has adequate liquidity to weather the diesel emissions crisis, two people familiar with the matter said.

VW does not need the money currently and is seeking extra funds to create a financial cushion, said the people, who asked not to be identified discussing private talks.

VW aims to have the funding in place before the end of the year, they said.

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atc98092 - 11/13/2015 6:51:28 PM

+4 Boost

This person was blissfully silent for some time. I assumed a ban was in place. Looks like it's time to apply one again.

atc98092 - 11/13/2015 7:20:59 PM

+5 Boost

Talk about dumb. There is no way my comment is racist. You, however, ARE a racist because you feel there's only one race/country that has value. You completely dismiss anything that doesn't come from the Land of the Rising Sun.

Grow up and be a real person. You are either a young child that has no idea about anything, a troll that is simply stirring up dissent, or are a 100% true racist.

This is the one and only response I will give you.

TomM - 11/14/2015 7:58:16 AM

+2 Boost

Your comment about Lamborghini makes no sense - Lamborghini is a specialty hand made high end sports car manufacturer - so is Bugatti - and Toyota Does not make ANY such cars for sale. Bentley sells high end hand made super Luxury Cars - Toyota does not make them either. Super car lovers don't love Toyota - Toyota makes no such cars for them to love

SO your comparisons are simply not true. And Toyota does NOT sell most in the USA - Both Ford and General Motors outsell Toyota. And both General Motors and Ford have lower recall rates than Toyota since 1985. In fact - Kia lower recall rates than Toyota.

And the reason why Toyotas are reliable cars is because they are bought largely by a bunch of old seniors who rarely drive them - or push their limits. Toyota cars rarely win comparison tests - or even come close - as well.

MDarringer - 11/13/2015 7:35:50 PM

+2 Boost

Breaking VWAG into VW/Skoda/Audi/trucks and selling off Porsche/Lamborghini/Bentley to a deep-pockets mainstream company (Hyundai/Kia, Geely, Toyota) should be the plan rather than banks gambling with money that belongs to their customers and not the banks. SEAT needs to die.

PUGPROUD - 11/13/2015 7:37:51 PM

+5 Boost

Vw will be bleeding cash for years. $21 billion just the tip of the liability iceberg.