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ShareFrankfurt: Volkswagen is unlikely to make further strategic deals in the near future, its chief executive signalled, suggesting an end to the company's recent spree which included the taking of a stake in Japan's Suzuki.
"There are some who knock on our door. Some really want to come under our roof as they see we're on a good path strategically. But we are satisfied with the current line-up. I don't see any need (for further M&A activity)," Martin Winterkorn told German magazine WirtschaftsWoche in an interview published on Saturday.
Volkswagen, Europe's largest carmaker, earlier this month moved to take a one-fifth stake in Suzuki Motor Corp, only a few days after the company acquired a 49.9% stake in Porsche's sports car business.
Asked whether Volkswagen would raise its stake in Suzuki in the long-term, Winterkorn said the company was satisfied with its 19.9% stake.
"Time will tell whether it will rise," Winterkorn said.
Volkswagen was in focus on Friday, as Qatar took a 17% voting stake in the company after exercising options, causing its ordinary shares to be replaced by its preferred counterparts.
Winterkorn also said the contract -- which saw the production of the Porsche Boxster model put in the hands of Magna -- had been cancelled, as it is now to be produced at Karmann, of which Volkswagen bought some assets in November.
"Believe me, Magna is very satisfied with this solution. We have made up for the expenses that were caused," he said.
For 2010, Winterkorn does not expected short-time work at the company, he said, adding that order books were sufficiently filled until early in the year and that he expected VW to win further market share.
"There is no doubt about that in my view."
