VW JOINS IN BIDDING FOR ROLLS; PRICE COULD RISE TO $862 MILLION.Byline: Rupert Spiegelberg Bloomberg News Volkswagen AG Volkswagen AG (VW) Major German automobile manufacturer. It was founded in 1937 to mass-produce a low-priced “people's car” (Volkswagen). After World War II the company was rebuilt with Allied help, and within a decade it was producing half of West Germany's said it's interested in buying Rolls-Royce Motor Cars Rolls-Royce Motor Cars is a BMW subsidiary responsible for the manufacture of the Rolls-Royce Phantom. History In 1998, owners Vickers decided to sell Rolls-Royce Motors. Ltd., a move that may push the U.K. luxury carmaker's price tag as high as $862 million as it enters a likely bidding war with rival Bayerische Motoren Werke AG. VW, which is best known for its mass-produced VW Golf and Beetle cars but also makes SEAT, Skoda and Audi brand cars, wants to upgrade its image by entering the high-end luxury car market. It already has begun to make inroads inroads Noun, pl make inroads into to start affecting or reducing: my gambling has made great inroads into my savings inroads npl to make inroads into [+ in the luxury segment with its Audi brand competing head-to-head with lower-end BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. and Mercedes-Benz cars The following is a List of Mercedes-Benz cars indexed by year of introduction. Daimler and Benz vehicles
``I have difficulties imagining a Rolls-Royce with a Golf engine,'' said Juergen Foerster, who helps to manage $11.5 billion at a Zurich investment house. ``I think it would fit in better with BMW. I see more synergy effects, and financing would be no problem.'' VW shares fell 3 percent in Frankfurt trading and BMW shares climbed 2 percent. Until now, BMW has been the only carmaker to openly express an interest in the British carmaker. BMW was widely seen as the most likely buyer because of its contract to supply engines for the next generation of Rolls-Royce and Bentley cars and its airplane engine, making a joint venture with the owner of the Rolls-Royce brand name. Other companies that are reported to be interested include General Motors Corp., Chrysler Corp. and Toyota Motor Corp. and an independent management team. None have confirmed their interest. Volkswagen is currently developing its own V12 engine
A V12 engine is a V engine with 12 cylinders in two banks. , the favored engine size for luxury cars in the Rolls-Royce class. The company presented an Italian-designed sports car with a 12-cylinder, 420 horsepower engine at the Tokyo Motor Show The Tokyo Motor Show (東京モーターショー) is a biennial auto show held in October-November at the Makuhari Messe, Chiba City, Japan for cars, motorcycles and commercial vehicles. . The entry of VW, Europe's largest carmaker, into the auction is likely to increase Rolls-Royce's price tag, which analysts had previously estimated at between $500 million and $650 million. Vickers is reported to want more than $800 million for the carmaker. Vickers said it had not received any formal bid from BMW or VW and repeated the auction would remain open until early next year though the company reserved the right to close it early. |
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