VW's MAN Sticks to Lofty Margin Goal Ahead of Possible Truck IPO
- Returns at Munich-based MAN lag behind sister brand Scania
- VW’s newly formed Traton unit to host capital markets day
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Volkswagen AG’s MAN unit is sticking to a profitability target it fell short of for years amid painful cost-cutting, underscoring the ambitious goal of the German automaker’s truck division to generate industry-leading returns as it prepares for a possible share sale.
MAN still aims to generate an operating profit margin of about 8 percent even as some business areas like smaller vehicles or buses are unlikely to achieve that level, Chief Executive Officer Joachim Drees said Wednesday in an interview at the biannual commercial vehicle show in Hanover, Germany.