Volkswagen AG announced on May 13 that it is resuming preparations for an initial public offering of Traton SE, with progress to be made “depending on further developments on capital markets.”
Volkswagen has announced plans to postpone an initial public offering of the company’s trucking group Traton, formerly Volkswagen Truck & Bus, due to uncertain market conditions.
Traton SE has announced that it “maintained its growth path” last year, achieving a vehicle sales increase of 14% by delivering a record 233,000 commercial vehicles across its MAN, Scania, and Volkswagen Caminhões e Ônibus brands.
Navistar CEO Troy Clarke touted benefits of the company’s deal with Traton Group, noting for example that it has gained more purchasing power.
Volkswagen Truck & Bus has announced a new name, Traton Group, as it increases its independence and readies itself to raise funds for global expansion in commercial vehicles. Meanwhile, parent company Volkswagen AG is talking with Ford about possibly developing a line of commercial vehicles.