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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.

Volkswagen bringing driver assistance systems to its 2016 lineup

Chevrolet isn't the only manufacturer rolling out luxury safety technologies on a 2016 mass-market lineup. Volkswagen has just announced that next year it will begin adding driver assistance systems to its lineup here in the States – stuff that was previously only available on Audi and Porsche models here, or Volkswagens in Europe. Adaptive cruise control, forward collision warning, and autonomous braking will be standard on the CC V6 4Motion, optional on certain trims of the Golf and Jetta. Blind spot monitoring will be standard on the Beetle, and top CC and Jetta trims, but optional on the Golf and lower Jetta variants. Automated parking will be available on Golf models, including the e-Golf. Blind spot assistance with rear traffic alert, lane departure warning, park distance control, and an automatic post-collision braking system also come in the technology kitty, all of which will be packaged at prices between $695 and $1,495. Infotainment options take a bit step up, too, with every VW model but the Touareg being fitted with touchscreens. The new MIB II head unit comes in four sizes, the Beetle, Jetta, and Tiguan getting the smallest, five-inch screen as standard but upgradeable to a 6.5-inch screen. Android Auto, Apple CarPlay, and MirrorLink are integrated into that larger screen. The interface is improved by a faster processor, higher resolution, and better graphics, and some will come with swiping and pinch-to-zoom functionality. The two press releases below lay it all out in detail. VOLKSWAGEN DEMOCRATIZES HIGH-END DRIVER ASSISTANCE FEATURES FOR THE 2016 MODEL YEAR Many models in the 2016 Volkswagen lineup offer new driver assistance systems that used to be the sole preserve of premium and luxury vehicles Herndon, VA Jul 29, 2015 — For the 2016 model year, Volkswagen is offering a host of driver assistance features that were only previously available on the premium Touareg SUV—and adding some new ones that truly democratize driver assistance for the compact sedan and compact hatchback classes. These available features include: Forward Collision Warning and Autonomous Emergency Braking (Front Assist); Adaptive Cruise Control (ACC); the Parking Steering Assistant (Park Assist); and an active Lane Departure Warning (Lane Assist) system. The Beetle, CC, e-Golf, Golf, Golf GTI, Golf R, Golf SportWagen, and Jetta offer these available features, depending on model and trim line.

German investigators search VW headquarters, take documents

German investigators are no longer pursuing an official investigation against former Volkswagen CEO Martin Winterkorn, but prosecutors aren't giving up their detective work into the automaker's actions surrounding its diesel emissions scandal. In their latest move, authorities have searched VW's headquarters in Wolfsburg and confiscated documents and other data to learn more about how a software-based "defeat device" made it into the real world, according to Reuters. VW described the amount of material that it handed over as "comprehensive." The automaker is also conducting its own, internal investigation, but the company isn't releasing those results, yet. It has allegedly responded by suspending over 10 employees, including three top engineers. There has been reportedly no actual evidence found against this trio of men. In addition to the work of German prosecutors, many US investigators are looking into VW's actions, as well. The West Virginia Attorney General is suing the company for fraud, and there are pending class-action lawsuits. In written testimony for a Congressional hearing, Michael Horn, President and CEO of VW Group of America, said he first learned of the emissions noncompliance when the West Virginia University study was published in the spring of 2014. A recall on the affected Volkswagens isn't expected to begin until at least January, according to CEO Matthias Muller, and it could be later for some models. The costs to fix them all and deal with potential fines means that VW must delay some projects to save money. Put another way, VW will be dealing with the repercussions of this scandal for years. Related Video: