Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 276

Expert comment on Volkswagen considering an IPO for its trucks division

Posted by fidest press agency su lunedì, 8 febbraio 2016

Christian Stadler, Professor of Strategic Management and has researched Volkswagen, comments on Volkswagen considering an IPO for its trucks division.Professor Christian Stadler said: “This is an interesting decision for Volkswagen as keeping hold of the truck business might help it smooth out what is a tough period on the car front following the emissions scandal. But from the perspective of the truck division it will probably find it hard to get any extra capital to grow because the group’s focus is on the emissions scandal, even though this is a good period to for the truck division to grow. The truck market is going through a difficult period, so acquisitions would be cheaper. “Volkswagen is too busy dealing with the emissions scandal so by the truck division going independent it might bring in the capital it requires. There is a big growth opportunity for its brands – MAN and Scania – in the US where they have very little presence, particularly when compared to its rivals Daimler and Volvo. They are both active in the US and own other brands there. The market is very different in the US because of the regulations, but it could acquire a company like Paccar or Navistar International.”The other option for VW trucks is China. The market is also expected to be slow, but Volkswagen is in a relatively strong position in China. It has a dual strategy, with a partnership with Sinotruk to produce trucks for the mass market, while its brands MAN and Scania take on the high end of the market. It could grow in China by organising additional partnerships with local players.”So far Volkswagen has struggled to find synergies between MAN and Scania since it acquired both. This might be because MAN attempted a hostile takeover of Scania in 2006 which eventually failed. It has produced a non-driving axel for both brands and it is combining two assembly facilities in Russia into one, but there has been only limited progress in finding synergies. Having said that, I don’t see why that would be affected if the trucks division became independent.”
Warwick Business School has in-house broadcasting facilities for TV and radio. We have an ISDN line for radio and for television interviews we have the Globelynx TVReady network, a list of Warwick experts is available.


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