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VW has received several tentative bids for Ducati

Italy's Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany's Volkswagen, sources involved in the process told Reuters. Volkswagen, whose Audi division controls Ducati, has received several tentative bids with the Benetton family's investment vehicle Edizione Holding valuing the Monster motorbike maker at $1.2 billion, one of the sources said. As well as Edizione Holding, U.S. buyout fund Bain Capital, which owns a stake in Ski-Doo snowmobiles maker BRB, and two Indian motorbike firms, Eicher Motors and Bajaj Auto, have also bid for Ducati, the sources said. Indian carmaker Eicher controls Royal Enfield, a motorcycle brand established in 1893 which ranks as one of the oldest. Strategic bidders also include U.S. automotive firm Polaris Industries, which earlier this year said it would wind down its struggling Victory Motorcycle brand. A shortlist of bidders for a second stage of the auction could be selected as soon as Saturday, two of the sources said. Volkswagen adviser Evercore has a long list of bidders including private equity funds such as Ducati's previous owner Investindustrial, CVC Capital Partners, Advent and PAI, all hoping to outbid industry players, the sources said. If it gets to the second round, Edizione Holding could seek to form a consortium with a financial investor, two of the sources said, in a bid to secure control of Ducati, whose racers have won the Superbike world championship 14 times, with Carl Fogarty and Troy Bayliss its most successful riders. Audi, Edizione Holding, Investindustrial, Advent and PAI declined to comment, while the other interested groups were not immediately available for comment. PRICING CHALLENGES For some buyout funds, Ducati's valuation of up to $1.4 billion – which sources said is based on a multiple of more than 10 times its core earnings of roughly 100 million euros – is a tall order as they lack the synergies that some motorbike makers could achieve. But Investindustrial founder Andrea Bonomi, who sold Ducati to Audi for about 860 million euros in 2012, is serious about a comeback, one of the sources said. China's Loncin Motor was among a group of industry players that initially showed interest in Ducati, alongside Harley-Davidson. The latter has, however, decided against making a bid due to Ducati's price tag, while it could not be established if Loncin Motor had carried on bidding.

2022 Genesis GV70, raging at VW ID.4 tech and thoughts on a new Lexus LFA | Autoblog Podcast #696

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor James Riswick. This week, they talk about driving the Genesis GV70, VW ID.4 and VW Taos. They talk about ways Chevy could "fix" the Camaro. James ranked all the James Bond films based solely on their starring cars. Next, they reach in the mailbag and discuss the question, "Do you think Lexus will make a successor to the LFA and, if so, what do you guys think it would be like?" After ruminating on that query, they dip into the mailbag a second time to recommend a sporty crossover to a listener in this week's Spend My Money segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #696 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown What we're driving: 2022 Genesis GV70 2021 Volkswagen ID.4 2022 Volkswagen Taos How we'd fix the Chevy Camaro All 24 James Bond movies ranked only by their cars Mailbag: What would a Lexus LFA successor look like? Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related Video: Lexus LFA | TRANSLOGIC

Volkswagen Group launches Truck and Bus GmbH

Volkswagen is not only one of the largest automakers in the world – it's also one of the biggest producers of commercial vehicles. Not just vans like the Caddy and Crafter, but proper trucks and buses. And now it's reorganizing them all under the newly incorporated Truck & Bus GmbH. The new division brings VW's two truck manufacturers MAN and Scania under one roof. MAN is, after all, wholly owned by Volkswagen, and in turn holds over 75 percent of the shares in Scania (as well as MAN Latin America). Along with Volkswagen Commercial Vehicles, they make the Volkswagen Group one of the largest truck manufacturers in the world, behind Daimler and Volvo (the truck manufacturer is separate from the automaker). Although VW Commercial Vehicles will apparently not form part of Truck & Bus GmbH (since it makes smaller vans more than trucks and buses), it will also report to Andreas Renschler, the Volkswagen board member in charge of the company's work vehicle operations. Renschler previously served in a similar role at Daimler. In a bit of a reversal – or a sign of things to come – Volkswagen CEO Martin Winterkorn (who just survived a failed overthrow attempt by ousted chairman Ferdinand Piech) will sit as chair of the supervisory board of Truck & Bus GmbH. Wolfsburg, 05 May 2015 Volkswagen creates integrated commercial vehicles group • Truck & Bus GmbH to become holding for commercial vehicle brands • Prof. Martin Winterkorn: "MAN and Scania will together become global champion" • Board Member for Commercial Vehicles Andreas Renschler: "MAN and Scania brands retain their independence" • Works Council Chairman Bernd Osterloh: "The holding strengthens employees' participation rights" Volkswagen is creating the integrated commercial vehicles group and thus putting in place a structured framework for business with mid-sized and heavy trucks and buses. Truck & Bus GmbH is to become the new Volkswagen Group holding for the MAN und Scania commercial vehicle brands. This was decided yesterday (Monday) by the Supervisory Board of Volkswagen AG. To this end, the shares in Scania AB held by Volkswagen AG will be transferred to Truck & Bus GmbH. The wholly-owned Volkswagen subsidiary already holds 75.28 percent of the voting rights in MAN SE. Truck & Bus GmbH will establish processes specific to the commercial vehicles business, thus leveraging the full synergy potential between the brands.