Monday, September 5, 2016

VW and Navistar: Volkswagen wants to the US market for trucks – Handelsblatt

truck Navistar

Volkswagen with its truck brands in the important US market for heavy trucks has not been active.

(Photo : Navistar)

Hamburg / Frankfurt Volkswagen apparently succeeds with a partnership with the US truck maker Navistar the long-awaited jump to the important US market. The Wolfsburg planned a cooperation with the smallest US truck manufacturer, said three people familiar with the plans on Monday told Reuters.

Volkswagen will supply truck engines to the Americans, said one of the insiders. The cooperation will be underpinned by a stake of Volkswagen in the truck maker, is well-known for beefy tractors. The agreement was expected to be announced on Tuesday. Volkswagen did not comment on it. Navistar could not be reached for comment.

Diesel gate is always more expensive

  • the Volkswagen Group continues to receive more clarity about what the scandal will cost him to manipulated diesel cars. In the United States, he made a billion-compared to the compensation of US customers, with the dealers in the US it reached agreement on compensation. Worldwide threaten Europe’s largest carmaker additional costs for recalls, shareholder lawsuits and penalties that could mount up to more than ten billion euros. Analysts estimate that the work-up of the scandal will cost to manipulated emission values ​​at the end of a total of between 20 and 35 billion euros the Group.

  • The agreement with hundreds class action plaintiffs, authorities and US states cost Volkswagen to 15.3 billion dollars (equivalent to about 13, EUR 6 billion). The majority is attributable to the repurchase of 475,000 diesel cars rigged with 2.0-liter engines, are reserved for the ten billion dollars. The actual cost will depend on how many same-seater return their car and whether the US authorities authorize a conversion.

  • His round 650 US dealers wants VW According to insiders, pay at least $ 1.2 billion compensation because they could no longer sell diesel cars in almost a year. A memorandum of understanding is taken for a final agreement gave a court the parties until September time.

  • “14″ run with the US Department of Justice currently negotiating a penalty because of the exhaust manipulation. The “Wall Street Journal” reported that the German carmaker would a sentence of more than 1.2 billion dollars aufgebrummt. Analysts expect a sum between one and three billion euros. Some US states also want civilly seek to enforce higher damages because they are not satisfied with the comparison. This involves hundreds of millions of dollars.

  • No agreement there previously for around 85,000 larger vehicles with three-liter diesel engine , VW is confident that a repair can be done. Until the end of October the Court gave in San Francisco Volkswagen in which to submit proposals for solutions. For November 3, sat Judge Charles Breyer at another hearing. If Volkswagen will be forced to repurchase these expensive cars that billions more would devour. Jürgen Pieper at Bankhaus Metzler estimates the cost at up to two billion euros.

  • A big chunk is also the conversion of approximately 8 , 5 million diesel cars in Europe. Estimates range from good one to three billion euros, which is expected to cost the. The auto analyst Arndt Ellinghorst of Evercore ISI also expects to shrinking market shares of Volkswagen and lower prices will be felt as a result.

  • compensation of the customers in Europe VW rejects still, although demands for a similar comparison as numerous as in the US. Should this nevertheless be payable, the Volkswagen could financially break the neck, experts fear. Analyst Pieper expects a loss of value in the order of EUR 500 per vehicle. “It is difficult to say whether VW is yet to pay a token amount at the end.” Industry expert Ellinghorst considers it likely that customers in Europe will see any money.

  • Worldwide, Volkswagen sees also with multibillion-dollar lawsuits filed by investors and small shareholders faced. The holders of shares and bonds throw Volkswagen claims to have informed too late about the extent of the gas scandal and want to enforce a compensation for losses. There is now before the Landgericht Braunschweig 170 damages claims of just under four billion euros.

  • the droves lawyers Volkswagen worldwide because of diesel scandal busy also devour money. The car expert Pieper goes up to one billion euros from his colleague Ellinghorst estimates the legal fees to several hundred million.

    Pieper expects the diesel Volkswagen scandal will cost a total of around 25 billion euros. Ellinghorst expects total costs of a similar amount. The experts believe the Group because of its reserves and the financial strength to be able to lift it. Only from 50 billion euros to Volkswagen takes part with investments, says Pieper.

    Source: Reuters

While the Wolfsburg in cars -Business arguing with Toyota the world market leadership, they play a major role in truck only in Europe. This will VW Truck & amp; Bus boss Andreas Renschler change. He had repeatedly made clear that this includes the presence in the US.

Unlike Daimler and Volvo Volkswagen with its two truck brands MAN and Scania in this important market for heavy vehicles previously not active. Therefore, there is speculation in the industry for some time, VW could take over in the US a truck farmer or enter into a cooperation. Possible partners Paccar and Navistar were called. The ability to build the business in the US under its own power, VW had rejected as too expensive.

Renschler had recently reveal in Reuters interview that he is working on a solution for entry into the United States. About his plans he stayed but covered. “You need the right moment to do the right step. And you need a little way lucky. “In China, the chief Trucker by VW in the course of internationalization plans to further expand the cooperation with the domestic truck manufacturer Sinotruk, in which MAN holds about a quarter of the shares.


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