- Nov 11, 2010
Report: Volkswagen eyeing Ferrari stake?
If Volkswagen has taught us anything, it's that you can never be too rich or have too many high-dollar automakers under your umbrella. Europe's largest auto group already encompasses Lamborghini, Bugatti and Bentley, is in the process of absorbing Porsche, and makes a couple more six-figure sports cars with Audi badges. But according to reports coming in from Europe, VW has its eyes set on acquiring yet another top-dollar automaker: Ferrari.
Given that it already owns Maranello's most direct competitor, you might be inclined to file this report in the "wild rumor of the day" category and be done with it. And while you'd certainly be justified, there's a whole lot of eyebrow-raising statistics surrounding this report. Rival Fiat group has been looking for ways to raise capital to keep both itself and Chrysler going, and selling stake in Ferrari has been tipped as a possible avenue. Reports have also linked Volkswagen – which reportedly has some $27 billion in cash on hand – with a possible Alfa Romeo takeover.
For his part, Fiat/Chrysler CEO Sergio Marchionne says neither is on the table, but Volkswagen chairman Ferdinand Piech has shown us nothing if not a penchant for buying up any brands he fancies. Given the fact that Fiat needs cash and Volkswagen is willing to spend, we wouldn't rule anything out just yet.
[Source: Automotive News - Sub. Req.]