Volkswagen prop 120 billion euros market valuation since six years

On Tuesday, the world’s 2nd carmaker envisaged growth in the Volkswagen shares by 8%, the highest since July 6, 2015, striking a current market valuation of more than 120 billion euros.

Volkswagen, which owns the Audi and Porsche brands, has appreciably more value to its shares pocket than the recent leading tech giant Tesla, which only sells a fraction of the cars compared to its German rival, which has a current market value of about $680 billion.

Volkswagen, the world’s No.2 carmaker, is worth 200 billion euros ($238 billion), said Chief Executive Herbert Diess.“Analysts, too, conclude that the sum of the parts has that value,” Diess told media following the group annual news conference.

“We have shown that we are not to be underestimated about the new areas of business. We are a serious player and have the resources to be a part of the new game,” he added.