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Sat, Jul 21, 2018 | Last Updated 8:32 pm IST

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Germany's Audi abandoned plans to sell its Italian motorcycle brand Ducati

Germany's Audi abandoned plans to sell its Italian motorcycle brand Ducati
Germany's Audi abandoned plans to sell its Italian motorcycle brand Ducati
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Germany’s Audi Chief executive Rupert Stadler said, in a sign of confidence that the car maker expects to be able to carry the costs of its transformation. Further Audi, which owns Ducati and Italian super car maker Lamborghini, last month reported higher operating profit and revenue for the first nine months, helped by growing auto demand in the higher-margin western European and U.S. markets.



Meanwhile chief executive Rupert Stadler told reporters that steps to reduce costs by 10 billion euros ($11.8 billion) cut red tape and deepen ties with fellow Volkswagen owned brand Porsche are "gradually increasing our financial and organizational leeway for the strategic realignment".

Germany

Further Stadler said there is therefore no economic need to sell Ducati. Volkswagen asked banks to evaluate options for Ducati and transmissions maker Renk earlier this year as seeks to become more nimble in its shift towards electric and self-driving cars following its diesel emissions cheating scandal.


Germany's Audi abandoned plans to sell its Italian motorcycle brand Ducati
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