By Jeremy van Loon
Dec. 20 (Bloomberg) -- Volkswagen AG has applied for 10 billion euros ($14 billion) in credit guarantees from the German government to ensure the carmaker has access to cheap financing, Der Spiegel said, without saying where it got the information.
The guarantees would allow Volkswagen to offer customers cheap purchasing and leasing conditions, the magazine reported. Volkswagen’s move may prompt Daimler AG and Bayerische Motoren Werke AG to also apply for the funds, according to Der Spiegel.
To contact the reporter on this story: Jeremy van Loon in Berlin at jvanloon@bloomberg.net
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