Volkswagen seeks to cut costs

Volkswagen is looking at ways to cut costs and boost cashflow and could sell more shares if the price of clearing up a scandal over its rigging of diesel emissions tests puts its credit rating at risk.

The German carmaker’s supervisory board has discussed ways of strengthening its finances, but has not talked about selling off assets or brands, two sources close to the board told Reuters.

One source said raising money by selling more shares would become likely if the cash costs of the scandal exceeded a “critical level”, without elaborating. Volkswagen declined to comment.