Those hoping to strike a merger or acquisition deal with Volkswagen AG anytime soon should stay at bay. CEO Martin Winterkorn has made it clear that the company’s recent deal-making rampage, which included VW taking an almost 20% stake in Suzuki and a 49.9% stake in Porsche only days apart, has come to an end.
When asked whether VW intended to increase their stake in Suzuki, Winterkorn indicated his contentment with VW’s current holding in the company. He had also said that a contract by which the Porsche Boxster would be produced by Magna Steyr had been cancelled and the Boxster is now to be produced at Karmann, a company in which VW became vested in back in November.
Winterkorn has expressed his optimistic view concerning Volkswagen gaining market share as time progresses.
– By: Stephen Calogera
Source: Automotive News (Subscription Required)