Lamborghini is not for sale, Volkswagen insists
WOLFSBURG, GERMANY - Volkswagen has refuted recent reports that it was considering selling its supercar brand Lamborghini.
A Volkswagen spokesperson told Reuters that there were "no plans for a sale or IPO of Lamborghini" and that speculation to that effect was "unfounded."
This comes after Bloomberg reported on Friday that Volkswagen was "weighing its options" for Lamborghini as it prepared to focus its future expansion plans on its core Volkswagen brand, as well as Audi and Porsche. These options reportedly included a possible sale or stock listing.
This also comes in the wake of Volkswagen boss Herbert Diess stating earlier this year that the company was reviewing its portfolio of brands, and looking at whether to divest some non-core businesses.
Apart from Lamborghini, this could also have been seen to apply to Bentley and Ducati, which are also owned by the German car giant.
Lamborghini, which was founded by tractor manufacturer Ferruccio Lamborghini in 1963, has been owned by the Volkswagen Group since 1998. The Italian sports car marque was also owned by Chrysler between 1987 and 1994, whom it even helped develop the Dodge Viper.
Although Lamborghini has been through some hard times, things have started looking up for it in recent years, with the new (and arguably sacrilegious) Urus crossover vehicle having helped the brand increase it sales by 96 percent in the first half of 2019. The company has also been experiencing strong demand for its Huracán supercar.
Perhaps there is good reason for Volkswagen to hang on to the Raging Bull.