Volkswagen has renewed its objection to approving a Formula 1 project.
Recently, Ferrari president Sergio Marchionne said that he believes VW brand Audi was "quite ready" to enter the sport soon.
"Then came the Volkswagen [emissions] chaos," he said.
VW's motor sport chief Wolfgang Durheimer has now told Autocar that it is actually the regulations chaos within Formula 1 that is preventing a foray.
"The situation is not predictable enough to make the kind of investment required," he said.
"On the regulations front, there are a lot of rumours around the engine side and the supporting technology side."
He added: "On the ownership side, there are also big questions the sport must answer. In F1, it seems the owners will not be there forever and that creates some instability."
VW currently competes in the World Endurance Championship, World Rally Championship and GT racing.
