FOLLOWING REPORTS in June that Volkswagen was investigating a stake in Suzuki, The Japanese carmaker’s CEO Osamu Suzuki confirmed today that no deal has been discussed.

The reports came after Volkswagen CEO Martin Winterkorn told Germany’s Manager Magazin that Suzuki "would be an interesting partner because of its competency in small cars".

Not long after, fellow Germany publication Automobilwoche quoted a Volkswagen executive at the Frankfurt Motor Show as saying "we expect that there will be a basic agreement this year".

Suzuki CEO Osamu Suzuki said today that the reports were nothing more than media speculation.

"There’s a saying that there’s no smoke where there’s no fire, but you’re all creating smoke where there’s no fire in this case," Mr Suzuki said.

"There’s been nothing on this from our side."