Earlier this year, it was reported that the Volkswagen Auto Group was considering selling off Ducati in an effort to streamline the company's costs. Harley-Davidson was looking to buy the Italian motorcycle company from Volkswagen. In a recent development, it appears that the sale of the motorcycle company will no longer push through.
Speaking to Reuters, a spokesperson from Volkswagen Auto Group said that the decision to sell saw little support from the board. With strong sales from Ducati, the supervisory board was said to be 'invigorated' by the sales performance of the brand. Prior to this, five bidders have been shortlisted to buy Ducati from Volkswagen. Aside from Harley-Davidson, the Benetton family was also among those being considered for the sale. With that said, Ducati remains part of the Volkswagen Auto Group, specifically, under Audi.
Aside from Ducati, the board did not approve the sale of Renk and Man Diesel and Turbo. Renk is one of the transmission suppliers of the Volkswagen Auto Group and the automaker owns a significant share of the said company. The spokesperson added, "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."
For the first half of the year, the Volkswagen Auto Group posted a 19 percent increase in operating profit. The company lowered costs in certain divisions and made adjustments to their research and development department. At the same time, the Group is working alongside the German government for the diesel rescue plan which sees cars affected by 'Dieselgate' being fitted with new emission control units.