Word from VW is that they plan on making the move into F1, just not for a few years.
Since Audi seems to get most of VW Group's motorsports money, and the most recent word from Audi is that they have no interest at all in F1, one might have thought that the matter was settled. Recent word from Wolfgang Duerheimer, Volkswagen's motorsports chief, suggests otherwise, and he is quoted as saying that VW has "enough brands" to make a Formula 1 bid a possibility in the future. He doesn't seem ready to jump in just yet though.
Duerheimer went so far as to name a specific year, 2018, when he would like to make the move. This is also the year which VW has set for overtaking Toyota as the world's biggest automaker. The comment about VW having enough brands leads us to believe that, should VW join F1 in 2018, the cars won't be wearing four rings. Fortunately, VW has given us plenty of time to speculate on which brand it will be.