Volkswagen Says No Brands Will Be Sold Off To Cover Scandal Costs

Volkswagen is not currently contemplating selling any of its brands or units to help pay for the costs of its diesel emissions test cheating scandal, its finance chief told a news conference on Thursday.

Frank Witter said Europe's biggest carmaker believed it had provisioned adequately for all known risks, although there were naturally uncertainties given the scope of the issue.

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skytop - 4/28/2016 4:59:00 PM

-1 Boost

Is VW going to sell off GM or Ford? How about Fiat/Chrysler?

Vette71 - 4/28/2016 5:35:13 PM

+3 Boost

Strange???!!! Very strange.

MDarringer - 4/28/2016 7:36:09 PM

+1 Boost

@Vette71, @skytop's medications had not yet kicked in.

mre30 - 4/28/2016 10:35:53 PM

-1 Boost

....and GM swore they would never shut down Pontiac, Oldsmobile, SAAB, Hummer, or Saturn.

This scandal has legs..just to see how much these long, drawn out cases cost - BP's "Deepwater Horizon" oil spill was said to cost about $20 Billion in the year after the spill. To date, BP has expended about $70 billion in costs.

Its possible that VW's costs, when everything is tallied can be in the $30 Billion to $50 Billion range, given the number of vehicles affected and laws apparently broken. VW has currently budgeted $7.6 billion for the issue - my bet - it will be AT LEAST double or triple that!

I wanna buy me Lambo (no, not buy me A Lambo, but buy me all of Lambo!)