On the very day Ducati unveils a new range of bicycles, it learns that it could be put on the market. Following an extraordinary meeting, the supervisory board of Volkswagen unanimously approved CEO Oliver Blume’s tough Future 2030 plan. This plan includes an overall cut of 100,000 jobs and the disposal of certain assets. The list of possible disposals could include Europcar, which is earmarked for a stock market listing, and Ducati, which could be sold in whole or in part, according to Corriere della Sera.
The tough plan
The uncompromising position of Volkswagen’s managers and its main shareholders — the Porsche-Piëch family and Qatar’s sovereign wealth fund — has prevailed. Had the German carmaker’s supervisory board, which also includes employee representatives, rejected the plan for a second time, it would probably have been put to the shareholders’ meeting, with a predictable outcome. Future 2030 is primarily intended to adapt the cost structure to lower vehicle sales. The plan calls for 100,000 jobs to be cut over the coming years. Volkswagen’s production capacity in Europe will be reduced to 500,000 units, meaning that four factories, employing 40,000 people, could close between 2031 and 2034 if no alternatives emerge.
Ducati could be put on the market
Blume’s strategy also envisages reducing Volkswagen’s holdings by around one third. All or part of 750 of the more than 2,000 equity interests held by the German group could be sold. Ducati could also be in the mix and could therefore be sold in whole or in part. According to sources cited by Corriere della Sera, investment banks have already been informed of Volkswagen’s intention to unlock the value of Ducati. By contrast, there is no mention of Automobili Lamborghini, whose performance is very positive, unlike that of the motorcycle manufacturer based in Borgo Panigale, Bologna.
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