8:59 AM Volkswagen (VLKAY.PK) continues to explore building out its dealer footprint in the U.S. after sales per franchise increased last year by 24% to 543. Last year, 90% of all dealers in the U.S. were profitable, but the German automaker still has a long way to go to reach its long-term goals in the U.S.
1:54 PM Volkswagen (VLKAY.PK) might add a another brand this year as part of a growth strategy, according to chairman Ferdinand Piech. If it does, look for the automaker to go small. Earlier this year, Volkswagen indicated a budget brand for emerging markets could be part of its plans. Read comments
About a month ago, there was a blurb in Transport Topics Online about VW considering buying a stake in NAV:
Volkswagen Considers Buying Stake in Navistar
Volkswagen is in the “early stages” of considering whether to purchase a stake in Navistar, the maker of International brand trucks, Reuters reported Monday.
Reuters cited the Financial Times Deutschland, which said the move would enable Volkswagen to enter the U.S. truck market and help it compete with Daimler Trucks, which owns the Freightliner and Western Star brands.
The paper did not say where it received the information, Reuters said.
Volkswagen currently controls truck makers Scania of Sweden and MAN SE of Germany.
On Friday, Bloomberg reported that investor Carl Icahn had boosted his ownership in Navistar to 11.9%, from 10.6%. Icahn purchased an additional 883,200 shares at an average price of $24.44 each, Bloomberg said.
On Thursday, Navistar reported a $172 million second-quarter loss.