Volkswagen to cease buying frenzy, focus on existing brands: report
The Volkswagen Group is set to prioritise the development of its current 12 brands before it considers purchasing any more manufacturers, according to reports.
Bloomberg reports Europe's largest car maker, the ever-expanding Volkswagen Group, intends to focus on the integration of its recent purchases of Porsche, Ducati and heavy-truck maker MAN, with Volkswagen Group CEO Martin Winterkorn saying the group’s current brands are its focus.
"We have enough to do at the moment in taking our 12 brands to where we want to be," Winterkorn told German newspaper Handelsblatt.
In regards to suggestions of interest in Proton and Alfa Romeo, Winterkorn remained on point saying, "We are currently busy enough with our brands."
It's been a busy year for Volkswagen with the purchase of the remaining 50.1 per cent stake in Porsche agreed on in July, completed in early August, the buying of Italian motorcycle icon Ducati in July and the increase of its share in truck manufacturer MAN in June.
The Volkswagen Group currently encompasses brands such as Audi, Bentley, Bugatti, Lamborghini and Skoda.
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