On March 3, in German local time, Volkswagen announced that it had successfully acquired 68.6% of the voting shares in Scania Trucks, a leading Swedish truck manufacturer. This marks the completion of its acquisition plan and highlights Volkswagen’s strong ambition to dominate the global truck market. The deal was valued at 2.88 billion euros (approximately $4.37 billion), signaling a major step toward greater integration within the global commercial vehicle industry.
Industry experts believe this move reflects a growing desire to create a larger, more competitive truck company, aiming to strengthen its position against key rivals like DaimlerChrysler and Volvo. Martin Winterkorn, then Chairman of Volkswagen Group, emphasized that Scania is a highly respected brand with a promising future. He assured that Volkswagen would support Scania’s management and profitability strategies, while ensuring no changes to its employees, leadership, or headquarters.
Scania has a long history of excellence in truck manufacturing. Founded in 1891, the company has sold over one million heavy trucks and large buses since its inception. For more than 70 consecutive years, Scania has maintained profitability, making it one of the most profitable companies in the European truck market.
Volkswagen has always been committed to its commercial vehicle segment. Its original strategy involved integrating two major truck manufacturers—Germany’s MAN Group and Sweden’s Scania Motors—along with its Brazilian truck plant into a unified development plan. If fully realized, the resulting alliance would have created the world's largest truck fleet, surpassing both DaimlerChrysler and Volvo.
The acquisition of Scania also strengthens the potential alliance between Volkswagen and MAN. Volkswagen already holds nearly 30% of MAN’s shares, laying the groundwork for deeper collaboration in the truck business.
According to Yu Bing, an auto analyst from Ping An Securities, Volkswagen’s efforts in the truck sector are still in their early stages. Compared to competitors like Mercedes-Benz and Volvo, Volkswagen lags significantly and has yet to enter the Chinese market. However, the company is clearly working hard to catch up and establish itself as a major player in the global truck industry.
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