Volkswagen to acquire Korean automaker Hyundai?

NEW YORK - JUNE 15: A detailed view of the new 2011 Volkswagen Jetta Compact Sedan at the world premiere of Volkswagen's new Jetta compact sedan at Times Square on June 15, 2010 in New York City. (Photo by Jemal Countess/Getty Images)

Can it be true that the bigs at Volkswagen are very interested in acquiring Korean automaker Hyundai? This would make a merger of the two companies a real powerhouse moving forward. What happens then to KIA? Time will tell but inquiring minds are all over this one.

From AutoGuide.com:

The Truth About Cars is reporting that Volkswagen executives are turning their attention towards Korean auto giant Hyundai, after comments made to the press by two Volkswagen managers came to their attention.

According to a translation by TTAC’s Bertel Schmitt, VW CEO Martin Winterkorn spoke admirably about Hyundai in a German magazine, stating “I have the most respect for Hyundai. The Korean currency is low (as opposed to the Japanese …) and quality is high. “Hyundai now knows how to build good cars.”

In a seperate interview given to the Korea Times, Volkswagen honorary chairman Carl Hahn admonished Korean automakers to stop selling their cars based on low prices, and instead focus on quality and value for money.

Read the full article here.

  

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