Volkswagen Group denies possible bid for Paccar

Article by Christian A., on July 6, 2014

Volkswagen Group clarified that has no interest in bidding for American truck-maker Paccar. Analysts have been expecting VW to enter the United States trucks market, either through an acquisition of Paccar or of Navistar International, to be able to compete against current global leaders Daimler and Volvo.

 In a Bernstein Research note published recently, Daimler's commercial vehicle chief Wolfgang Bernhard disclosed that he was informed by "serious, multiple sources" that VW is planning to bid for Paccar in 2015. A VW spokesman dismissed the speculations, calling them "complete rubbish."

According to Daimler spokesman Florian Martens, Bernhard had been asked about consolidation among truck makers, and answered that VW’s interest in Paccar was a widely discussed topic in the industry.

VW Group recently sold EUR2 billion ($2.7 billion) in preferred stock to help finance the takeover of Scania. VW is integrating Scania with MAN and its own commercial-vehicle operations to create a truck division that will rival that of Daimler’s.

VW, however, lacks a presence in North America, since MAN and Scania are both focused on Europe – making a Paccar acquisition logical. Paccar produces Kenworth and Peterbilt trucks in the US and DAF vehicles in Europe.

Bernstein Research analyst Max Warburton remarked that a VW bid for Paccar "would not be a ridiculous move,” since its current truck operations currently all non-NAFTA. He noted that a Paccar acquisition would be expensive, would require a capital increase and may upset investors.

Arndt Ellinghorst, an analyst at ISI Group in London, said in a report that VW may not retain Paccar's operations in Europe due to competition legislation. He said that CNH Industrial is seen as a potential suitor for DAF.

If you liked the article, share on:

Topics: vw

Comments

Recommended

Those in the United Kingdom may now order a new version of Skoda’s sports utility vehicle – the new Skoda Kodiaq Sportline. It will be slotted between SE L and...
by - December 10, 2017
As part of its new electrification strategy, German carmaker Volkswagen is working to finalize the production version of the Volkswagen I.D. Crozz SUV concept and introduce the new vehicle to...
by - December 10, 2017
The company founded by Ferdinand Porsche has been in the business of building vehicles -- sports cars, SUVs and race cars – since 1931. The brand has long catered to...
by - December 9, 2017
BMW strongly believes that the future will be all about the electrification, or should we say e-mobility. And this is why as early as now, they already have a vision...
by - December 8, 2017
At this year’s FIA World Touring Car Championship, it was Volvo that stood out and became the victor with an S60 TC1 race car. So to celebrate this victory, the...
by - December 8, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries