Cars
Porsches, Lamborghinis Lost at Sea May Cost VW $155 Million
- Russell Group’s estimate assumes all vehicles are lost
- Total of $401 million worth of cars may have been on board
The cargo ship carrying about 4,000 Volkswagen AG vehicles that caught fire last week could cost the automaker at least $155 million, according to a risk-modeling company’s estimate.
Of the roughly $438 million total value of goods aboard the Felicity Ace, which went up in flames off the coast of Portugal’s Azores Islands, Russell Group said Monday it estimates there are $401 million worth of cars. VW group had Volkswagen, Porsche, Audi, Bentley and Lamborghini models on the vessel.