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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.

Mercedes-Benz, Volkswagen, and Audi announce Takata recalls

Daimler, Volkswagen, and Audi will recall nearly 1.7 million total vehicles in the US to replace their Takata airbag inflators. The Japanese parts supplier and the National Highway Traffic Safety Administration announced in late January that several automakers would need to fix around five million more vehicles, and the various companies have been releasing the details since then. Daimler has a recall for 841,000 vehicles in the US, including 705,000 from Mercedes-Benz and 136,000 from the company's van division. Reuters reports the affected models consist of 2005-2014 examples of the SLK-Class, C-Class, E-Class, M-Class, GL-Class, R-Class, and SLS-Class. The vans comprise the 2007-2014 models of the Dodge, Freightliner, and Mercedes Sprinter. Autoblog reached out to Mercedes USA to confirm these details, and we're awaiting a reply. Daimler expects the repair campaign to cost 340 million euros ($382 million at current rates). The company will book the costs as part of its financial year 2015 results, and net profit for that year will fall to 8.7 billion euros ($9.8 billion). Volkswagen's recall covers 680,000 vehicles in the US to replace their driver side airbags. The affected models have Takata's SDI and PSDI-5 inflators, which could rupture in an crash, but the automaker isn't aware of any explosions for these parts in its products. This campaign includes: 2006-2010 Passat Sedan and Wagon (German Production) 2012-2014 Eos 2010-2014 Golf 2010-2014 Jetta SportWagen 2012-2014 Passat (U.S. Production) 2009-2014 CC There are also 170,000 Audi vehicles with the SDI and PSDI-5 inflators in the US, but there are no reports of the parts rupturing in the company's models. The affected products are: 2005-2013 A3 2006-2009 A4 Cabrio 2009-2012 Q5 2010-2011 A5 Cabrio VW and Audi are still working to identify the specific VINs for these vehicles. Afterwards, they will notify affected owners. Ford, Mazda, and Honda already announced details for their new round of Takata repairs. VW and Audi also recalled a small number of Tiguans and Q5s to replace their side airbag inflators from the Japanese company. NHTSA still expects BMW and Saab to detail expanded safety campaigns.

2015 VW Passat Limited Edition priced from $23,995*

Volkswagen is doing some rearranging of its lineup for the Passat sedan, ditching a pair of trims on the entry level, 1.8-liter, turbocharged four-cylinder and replacing them with a new Limited Edition trim level. Gone are the Wolfsburg and SE trims from model year 2014, which rung up at $24,375 and $26,280, respectively. The new Limited Edition will start at $23,995, not including $820 in destination charging. According to VW, the new trim level packages $2,755 of extras over the base Passat S, but only demands an extra $1,555 of cash. Not a bad bargain, particularly as the Limited Edition adds some desirable features. An intelligent key with push-button start, 17-inch alloy wheels, a rear-view camera, heated leatherette seats with power controls on the driver's side and a touchscreen radio with an eight-speaker stereo, along with a few lesser options, like fog lights, chrome window trim and a leather-wrapped steering wheel. Beyond the new list of standard equipment, this is still the same competent German sedan. The 1.8-liter, turbocharged four-cylinder is paired up with a smooth shifting six-speed automatic, as with other trim levels. Check out VW's press release on the new Passat Limited Edition, available below. VOLKSWAGEN RELEASES PRICING ON 2015 PASSAT LIMITED EDITION MODEL Mar 6, 2015 Passat Limited Edition model starts at $23,995 Fuel-efficient 1.8-liter TSI® engine and six-speed automatic transmission standard Value-laden model has a host of standard features, including KESSY® keyless access with push-button start, V-tex leatherette seating surfaces, heatable front seats,17-inch aluminum-alloy wheels, touchscreen radio and rearview camera Herndon, VA – Volkswagen of America, Inc., today, announced pricing on the 2015 Passat Limited Edition model. The Limited Edition model will have a starting MSRP of $23,995 (plus transportation) and supersedes the Wolfsburg and SE models from the current model year. The new Limited Edition model offers a great value: compared with the automatic transmission S model, it has $2,755 of additional equipment, but costs just $1,555 more.