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Volkswagen weighs IPO for truck unit to boost efficiency

Volkswagen AG is considering a stock sale of its bus and truck division in order to enhance efficiency at the German automaker, Reuters quoted the company's CEO as saying.

Last week, the management team at the largest automotive group in Europe discussed plans to change the legal structure of its truck business as part of the process required for an eventual separate listing, a source close to the company told Reuters.

Volkswagen CEO Matthias Mueller reportedly said that executives were concerned about improving efficiency throughout the company, not just the truck and bus division. Reuters noted that the company has sought to devolve authority away from headquarters and allow divisions to act with greater agility since the "Dieselgate" emissions scandal that occurred two and a half years ago.

However, a review of the automaker's portfolio of assets and stakes launched in the wake of the scandal has not borne fruit. Last year, opposition from labor leaders contributed to the collapse of a planned sale of Ducati, the company's Italian motorcycle brand, according to the report.

Mueller said no decision has been made on a trucks IPO.

The CEO separately said he was satisfied with the support his efforts have received from the automaker's supervisory board.