Volkswagen CEO: Porsche merger may be delayed

Volkswagen CEO Martin Winterkorn

Overtaking Toyota as the world’s leading automaker by decade’s end is on the top of Volkswagen AG’s ‘to do list’ along with adding Porsche to its never-ending stable of brands – however, the latter may have to be delayed by a little.

According to German news agency DAPD, Volkswagen AG CEO Martin Winterkorn said at an event in Stuttgart today that the merger “may be delayed.” He cited court proceedings and questions over tax issues as grounds for the possible delay.

Porsche gathered heavy debt in a early failed attempt to take over Volkswagen.

Volkswagen hopes to reach 10 million units by 2018 and will look to Porsche to add to that total. It is also actively seeking Fiat SpA’s Alfa Romeo brand.

– By: Omar Rana

Source: Detroit News