VOW Volkswagen AG

By Cecilia Butini

Traton SE on Wednesday set a new margin target for the group through 2024 as it expects higher volumes and efficiency gains. It also set targets for its subsidiaries Scania, MAN Truck & Bus and for its Latin American business, Volkswagen Caminhoes e Onibus.

The Volkswagen AG subsidiary set a 9% return-on-sales target for the whole group through 2024, saying that higher profitability should be supported by higher volumes, growth in its Vehicle Services business, and the completion of the realignment of MAN Truck & Bus.

"Unit sales of the group are expected to grow in the medium term, primarily driven by a highly competitive product and service offering, the company's recent entry into the North American market with Navistar, and the establishment of production in China," the company said.

Scania, Traton's Sweden-based, commercial-vehicle manufacturer, is aiming for a 12% strategic return on sales, while Man Truck & Bus is targeting 8%, it said.

Brazil-based subsidiary Volkswagen Caminhoes e Onibus, also known as Volkswagen Truck & Bus, is aiming for an 8% return on sales as a strategic target after delivering strong return on sales in 2021, Traton said.

Navistar, the recently-consolidated brand of the group, is targeting a 9% return on sales, with the ambition of further increasing profitability in the long term, Traton said.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

May 18, 2022 08:14 ET (12:14 GMT)

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