Volkswagen Ups Bid for Rolls-Royce in Fight Against BMW

Volkswagen's latest move in its bid for Rolls-Royce aims to outdo BMW's existing offer of $340 million. The German car manufacturer is now offering $370 million, a $30 million increase, for the luxury car brand. As part of its bid, Volkswagen has also promised to keep Rolls-Royce production separate from its own Audi brand, alleviating fears that the production would be merged with Audi's luxury arm. The company's bid also includes an offer to purchase engines from Cosworth, a Vickers subsidiary, for the new Rolls-Royce model.

Key Takeaways:

• Volkswagen has increased its bid for Rolls-Royce by $30 million to $370 million in an effort to outdo BMW's $340 million offer.
• The new bid includes an offer to purchase engines from Cosworth, a Vickers subsidiary, for the new Rolls-Royce model.
• Volkswagen has promised to keep Rolls-Royce production separate from its own Audi brand, alleviating fears of a potential merger.
• The company's bid aims to harm BMW's chances of acquiring Rolls-Royce, given BMW's existing closer links with the luxury car brand.
• Rolls-Royce's aero-engine company, Rolls-Royce plc, has the authority to withhold the Rolls-Royce name if the car company is bought by a foreign company.
• The Volkswagen board is set to approve the new bid this weekend, but Rolls-Royce shareholders will have the final say.
• BMW has until the end of this month to finalize its deal with Vickers.

Statistics:

• Rolls-Royce sales slumped by 44% in the first quarter of this year, with 151 cars sold in Britain compared to 236 in the same period last year.
• Volkswagen's new bid for Rolls-Royce totals $370 million.
• BMW's existing offer for Rolls-Royce is valued at $340 million.
• The number of Rolls-Royce cars sold in Britain in the first quarter of this year is 151, down from 236 in the same period last year.
• Volkswagen's new bid aims to increase production levels for Rolls-Royce to 10,000 cars per year.

Sources:

• The Times
• The Independent
• BBC News