Volkswagen considers asset sale to cut cost-CEO

Whatapp News

Wolfsburg   –      Volkswagen’s new Chief Executive Herbert Diess says he will consider asset sale and seek to turn the multi-brand conglomerate into a slimmed down company with strong brands.

Diess made the disclosure at his first news conference as chief executive at VW’s headquarters in Wolfsburg, Germany, on Friday.

He said he would look at the different assets in VW’s portfolio which included Renk and MAN Diesel, and review whether keeping them made sense.

“We will review all options,” Diess said, adding that this could include investing in the businesses or pursuing a sale.

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