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Prime Mover Magazine

Volkswagen plans IPO for Traton

German manufacturer, Volkswagen, aims to pursue an Initial Public Offering (IPO) for its Traton truck division.

The IPO is expected to be before the European 2019 summer break and is subject to further capital market developments.

Volkswagen Board Member, Frank Witter, explained that the business has reiterated its intention to pursue an IPO and current market assessments encouraged the Board to make this decision.

“Traton SE and our entire team are very well placed to resume preparations for swift IPO,” said Traton CEO and Volkswagen Board Member, Andreas Renschler.

“Our groundwork has been excellent and we are now fully focused on a potential IPO before the summer break,” he said.

Traton’s vehicle sales were up 7.4 per cent for the current quarter compared with the same period in the previous year.

Worldwide vehicle deliveries for the Volkswagen Group amounted to 866,400, down 6.6 per cent from April 2018.

Volkwagen Head of Group Sales, Dr Christian Dahlheim, said in many major countries, the overall market experienced a downturn in April.

“In our single largest market of China, the customers of many brands continued to be reluctant to purchase despite the reduction in the VAT rate,” he said.

Volkswagen is also investing around a billion euros in an electric battery cell plant in Germany.

Last year, Volkswagen Truck & Bus announced it would change its name to Traton Group.

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