NO TO VW IPO JUST YET

Andreas Rescher

VW is the talk of the Hannover Truck Show following its daring 16.7 per cent buy in to the US truck manufacturer Navistar and talk that an IPO may be on the cards for the German giant’s truck division.

However in a statement in the lead up to the IAA Show in Hannover, Volkswagen announced it has no plans for a public listing of its trucks business until 2019 according to senior managers of the automaker.

Some analyst had speculated that VW might sell or float its truck operations to help raise funds as the carmaker is pushing to become a global force in trucks.

However VW trucks chief Andreas Renschler told Reuters in July that a public listing of VW’s Truck & Bus division was not a top priority and declined to elaborate.

“Top priority for us at the moment is to intensify cooperation between our (Scania and MAN) brands and to implement the strategy to become a global champion” in trucks, a spokeswoman said in Hannover.