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Financial analysts and industry experts have been expecting Volkswagen to begin selling assets to help cope with the cost of its diesel emissions cheating scandal.

The penalty for its deception may have already reached $24.2 billion, and German lawsuits could tack on another $8 billion.

However, Europe’s largest automaker says it’s not interested in selling off properties to recoup losses associated with the scandal. It has another plan to rake in the cash.

VW says it’s more interested in focusing on the shift into electrification and mobility services. Cutting up assets for sale is not a good long-term plan for the company, according to corporate strategy head Thomas Sedran. While that may not be his personal assertion, it is a contention among the board members who forced the decision. Sedran said labor unions don’t want properties moved around, citing the group’s strong overall financial performance in spite of the scandal.



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Volkswagen Says It Is Focusing On The Future Not On Selling Assets

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