Didn’t they say they’re “not thinking of selling”? Hm.
According to a report, it seems that German automotive giant Volkswagen Group is preparing one of its subsidiary brands for sale. Super bike specialists Ducati are being prepared for sale, as the Group has engaged banking advisory agency Evercore to root out potential buyers for the famed Italian bike brand.
In 2016, Ducati managed a profit of about 50-million euros (or about $72mil), with total sales pegged at 593-million euros (around about $852mil) and turnover at 100-million euros (roughly $72mil). Though it may be profitable, the VW Group is likely looking for a quick sale to help shoulder the costs of the Dieselgate emissions-cheating fiasco, which resulted in a total of over $26bil in related fines and settlements.
Ducati is expected to be sold at between $1.4bil-$2.2bil (1.0bil-1.5bil euros), though if no suitable buyers surface for the marque, Volkswagen may end up listing Ducati on the stock market. This is in sharp contrast to a statement that Volkswagen made during the tail end of last year, when it made it clear to German press that they were “not thinking of selling parts of our brands” after speculation was strife about the possible sale of Ducati as well as its commercial truck division, MAN.
Following the Reuters report that brought this decision to light, Volkswagen, Audi, and Ducati all declined to comment.
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