Volkswagen seeks to issue bond debt again after emissions scandal

Volkswagen Group’s finance chief said the car maker is once again in a position to issue bonds, now that the company has released audited full year results.

Volkswagen has been struggling to move beyond an emissions scandal that has disrupted business and sullied its reputation.

“We have taken an important step with the issuance of audited results, we will now consider timing,” Frank Witter said, adding that he did not think the company would issue a new bond before the end of May.

Speaking at a conference to discuss its results, Mr Witter further said he expected the brand to swing to an operating profit in the first quarter after recording a €127m operating loss in the final quarter of 2015.

Separately, Volkswagen’s chief executive Matthias Mueller said VW had been using discounts and incentives to prop up sales.

Discounts have risen by 10% in the first quarter of 2016, compared with the final quarter of 2015, but incentives still remain 10% below those offered by competitors, Mr Mueller said.

* Reuters