Volkswagen has confirmed it has taken EUR2bn (US$2.5bn) of guarantees from the German government’s bank rescue fund.
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The group said the guarantees would refinance car loans and secure credit lines to dealers and customers.
“The guarantees allow us to assure credit availability to our dealers and final customers, thus helping to alleviate the effects of the financial crisis,” Volkswagen Financial Services chief executive Frank Witter said in a statement cited by Reuters.
