WOLFSBURG, Germany (Reuters) - Volkswagen quashed speculation on Thursday that it could expand its motorsport activities to include NASCAR and Formula One.
"I should know what I am talking about, since it would come out of my budget."
He also ruled out any interest in joining Formula One.
There has been speculation for months over whether VW would enter NASCAR with a factory team to bolster its appeal in the U.S. market, where it lags Japanese and Korean carmakers by a large margin.
As a brand, Volkswagen is most present in motorsport through its participation in the annual Dakar rally now held in South America, where VW's factory driver Nasser Al-Attiyah of Qatar won this year with his Racing Touareg.
(Reporting by Christiaan Hetzner, Editing by Alan Baldwin)