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Volkswagen considering stake in U.S. truckmaker Navistar

  • Volkswagen is in the early stages of assessing whether to buy a stake in troubled U.S. truckmaker Navistar International in a bid to plug the gap with rival Daimler, according to a report in the Financial Times Deutschland.

    The paper wrote the move would enable the group to better compete with Daimler Trucks, the world's biggest commercial vehicle maker.

    A spokesman for Volkswagen has declined to comment on the report.

    Volkswagen controls Swedish truckmaker Scania and Germany's MAN SE, both of which are mainly active in Europe and emerging market economies.

    The U.S. market is shared between Daimler's Freightliner, Volvo’s Mack brand, Navistar's International and Paccar's Kenworth and Peterbilt trucks.