autoevolution
 

Skoda Up for Sale?

While the Porsche-Volkswagen wars keep on making the headlines, another manufacturer owned by VW is getting ready to pack and leave the group. According to a report by autosblog.fr, a Korean manufacturer named Doosan has already submitted a proposition for the acquisition of Skoda. The proposition made by Doosan is worth, according to the source, in between $552 million and $630 million.

Doosan is a Korean manufacturer which specializes in...just about everything. The group is involved in operations in the financial sector, industrial equipment, IT services and even real estate. It is unclear at this point why would the Koreans want Skoda, but from Volkswagen's point of view, selling Skoda would make sense, the source says.

The reasoning behind this reasoning is this: should the projected merger with Porsche get to the next level, Volkswagen may have to assume some of the 9 billion euro debt the sports car manufacturer now has.

Whereas this may very well be the outcome of the Porsche-VW war, selling Skoda of all brands doesn't make as much sense. First of all, the brand posted profit at the end of Q1 (28.2 million euro). Unlike Seat, for instance, a brand which is going from bad to worse in terms of sales.

To sum it up, the story would go like this. Why would Volkswagen sell a rather performing brand instead of a "bad" one, for at most $630 million, given they may have to take part in a 9 billion euro debt?

As we said in the beginning, this is only a rumor. Details are bound to surface, whether the rumor is accurate or not, so keep an eye on it for further clarification.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram X (Twitter)
About the author: Daniel Patrascu
Daniel Patrascu profile photo

Daniel loves writing (or so he claims), and he uses this skill to offer readers a "behind the scenes" look at the automotive industry. He also enjoys talking about space exploration and robots, because in his view the only way forward for humanity is away from this planet, in metal bodies.
Full profile

 

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories