Business

VW Fears Most of Its Cars on Burning Ship Are Beyond Salvage

Risk assessment firms have estimated nine-figure cargo loss
Models onboard include VW, Porsche, Audi, Bentley, Lamborghini

The burning Felicity Ace car transport ship as seen from a Portuguese Naval ship southeast of the mid-Atlantic Portuguese Azores Islands. Source: Portuguese Navy

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By Monica Raymunt

February 25, 2022 at 6:17 PM UTC

Volkswagen AG has lost hope that many of its roughly 4,000 vehicles aboard a cargo ship that caught fire last week in the Atlantic can be saved.

The automaker’s brands and dealers have started notifying customers that the U.S.-bound vehicles will likely not be delivered, a spokesperson said Friday. “Individual solutions” are being worked out with customers, Volkswagen said.