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VW makes $9.2B offer for rest of truckmaker Scania

Volkswagen owns or has controlling interests in three commercial truck operations: besides its own, VW began buying shares in Sweden's Scania in 2000 and now controls 89.2 percent of its shares and 62.6 percent of its capital, then bought into Germany's Man in 2006 - in order to prevent Man from trying to take over Scania - and now owns 75 percent of it. The car company has managed to work out 200 million euros in savings, but believes it can unlock a total of 650 million euros in savings if it takes outright control of Scania and can spread more common parts among the three divisions.
It has proposed a 6.7-billion-euro ($9.2 billion) buyout, but according to a Bloomberg report, Scania's minority investors don't appear inclined to the deal. Although effectively controlled by VW, Scania is an independently-listed Swedish company, and a profitable one at that: in the January-September 2013 period its operating profit was 9.4 percent compared to Man's 0.4 percent. Some of the other shareholders believe that Scania is better off on its own and will not approve the deal, some have asked an auditor to look into the potential conflict of interest between VW and Man, while some are willing to examine the deal and "make an evaluation based on what a long-term owner finds is good," which might not be just "the stock market price plus a few percent." The buyout will only be official assuming VW can reach the 90-percent share threshold that Swedish law mandates for a squeeze-out.
Many of the arguments against boil down to investors believing that Scania's Swedishness and unique offerings are what keep it profitable, and ownership by the German car company will kill that. (Have we heard that somewhere before?) If Volkswagen can buy that additional 0.8-percent share in Scania, perhaps its buyout wrangling with Man will give it an idea of what it's in for: "dozens" of minority investors in the German truckmaker have filed cases against VW, seeking higher prices for their shares. It is likely only to delay the inevitable, though. If VW is really going to compete with Daimler and Volvo in the truck market, it has to get the size, clout and savings to do so.

Happy 60th to the VW Karmann Ghia

Volkswagen's product portfolio may be as extensive these days as any other carmaker in the business. But if you still think of the original Beetle as synonymous with the brand, that's probably because a) you're old and b) the Beetle was the company's only product until the mid-50s.
Sixty years ago Wilhelm Karmann (founder of the eponymous coachbuilder) was in Paris for the auto salon and met up with Luigi Segre and his team from Carrozzeria Ghia who showed him what was essentially a "Beetle in a sports coat." A month later they showed it to Volkswagen chief Heinrich Nordhoff who, setting aside his conservative tastes, approved it for production. And so the Volkswagen Karmann Ghia was born, giving the German marque a second product line. It still used Beetle mechanicals and was built at the same Karmann factory in Onsabrück that was already assembling the Beetle Cabriolet.
It took another couple of years to put the design into production, but from 1955 to 1974, Volkswagen and Karmann built 362,601 coupes and 80,881 of the subsequent convertible that arrived in 1957. Today the Onsabrück factory is part of the VW Group, handling production of the Golf Cabriolet, XL1 and Porsche Boxster and Cayman, and with that original Karmann Ghia prototype as part of its factory collection.

VW confirms Golf GTD diesel coming to US for 2016

Part of the Volkswagen Golf recipe that has helped the car sell more than 30 million units in just under 40 years is the number of variants in which the hatchback is offered. Building on that range here in the US, Automotive News is reporting that we will finally be getting the sporty Golf GTD, likely as a 2016 model. It's the GTD, you'll recall, that crosses the performance abilities of the venerable GTI with a powerful and fuel-efficient diesel engine.
After speaking with Andreas Valbuena, Volkswagen product manager for the Golf, AN not only says that the GTD will for sale in the US in a couple years, it also estimates a baseline price of around $27,000, which would place it between the current pricing for the GTI and the Golf R. The GTD is launching in Europe this summer, but we won't be getting the seventh-generation Golf in the US for another year. The news about the performance diesel model isn't entirely unexpected - VW officials have been hinting at it for at least a year now, going so far as to import a sixth-generation model for media test drives on US soil, a task we happily took them up on last year.
The Mk VII GTD uses VW's 2.0-liter TDI engine with output increased to 184 horsepower and 280 pound-feet of torque, allowing the car to sprint to 60 miles per hour in about seven seconds while returning more than 40 mpg in highway driving. We can't wait.