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MAN Cuts 2013 Earnings Target on Europe Decline


MAN announced it cuts its 2013 earnings target due to a drop in Europe’s truck market and extra costs for planned power-plant. For the first quarter MAN reported a loss of 82 million euro compared with a profit of 254 million euro in the same period last year, and much higher that the analysts’ estimation of a 30.8 million-euro loss. MAN ...
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VW to Buy MAN’s Shares from Minority Shareholders
MAN announced that VW is interested in buying the company’s shares from the minority shareholders, offering 80.89 euro per share. This move is part of VW’s plan to gain full control ...
MAN Slows Investments, Focuses On Reducing Spending
MAN plans to slow investments this year and focus on reducing spending on parts, as the European crisis makes earnings fall faster than sales. Chief Executive Officer Georg Pachta-Reyhofen said today, ...
Piech suggests VW will add at least one brand
Volkswagen AG chairman Ferdinand Piech suggested the company has plans to add at least one brand to the lineup in a bid to become the world's largest carmaker by 2018. In ...
VW Plans to Take Full Control Over MAN
Wednesday, January 9th, VW announced it plans to take full control over MAN. VW declared that it will seek to sign with MAN a domination and profit and loss transfer agreement, ...
Report: VW planning to terminate its commercial vehicles partnership with Daimler
Volkswagen plans to put an end to its commercial vehicles partnership with Daimler as it wants closer ties with its truck subsidiary MAN. According to a report from Reuters, which cited ...
Lamborghini Reventon replica made by Chinese farmer
A Chinese farmer has recently transformed some parts coming from old Nissan vans and Volkswagen sedans into a Lamborghini Reventon replica. The Lamborghini Reventon is probably one of the most exclusivist ...
MAN prepares for tough 2013 as truck orders drop because of the Euro crisis
MAN expects next year to be even tougher than 2012 as orders in the third quarter dropped more than normal. The Chief Financial Officer of the truckmaker controlled by Volkswagen AG, ...
Chinese man wins custody for BMW 1-Series after touching it for 4 days
A Chinese man has recently won custody for five years on a BMW 1-Series after touching it nonstop over three days and four nights. What would you do in order to ...
Volkswagen Plans to Build Vans With MAN
Europe’s biggest carmaker, Volkswagen is strengthening the ties between its van division and MAN, planning to build light commercial vehicles with the German heavy-truck manufacturer. Volkswagen already has an agreement with ...

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