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Suzuki’s CEO has denied reports that Volkswagen is set to take a 10 per cent stake in the Japanese manufacturer.

Last week, it was reported that Suzuki and VW could be working together on a microcar for the Asian markets. Part of the deal would have seen VW take a 10 per cent stake in Suzuki.

VW/Suzuki microcar tie-up

But commenting on the reports in the Japanese press, Osamu Suzuki said: “So far there's been absolutely no contact with Volkswagen. Lately, we've been the victim of a lot of rumors.”

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The news of Suzuki and VW’s potential tie-up last week pushed up shares in the Japanese firm by 5.5 per cent, but after the CEO’s comments, they fell 2.5 per cent.

See all the latest Volkswagen reviews, news and video

Mark Tisshaw

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