VW's commercial vehicles holding Traton performed better in the third quarter of 2023 than experts expected. Operating results adjusted for special effects rose 19 percent year-on-year to 1.14 billion euros. Market experts only estimated one billion euros.
Traton covers the Scania, MAN, International and Volkswagen Truck & Bus brands. The entire company is one of the largest commercial vehicle manufacturers in the world.
Traton has addressed supply chain issues
“Handelsblatt” reported that net cash inflows in the vehicle business – excluding financial services – approximately doubled compared to the previous year, amounting to 1.28 billion euros. According to the report, Traton boss Christian Levin emphasized: “We benefited from better pricing and product mix at Scania and a quick recovery from supplier issues at International Motors.”
Good numbers from Traton's commercial vehicles division are also good for the VW Group. The company is currently weakening, and electric cars from VW and its subsidiaries such as Audi and Porsche have been poorly received, especially in the important market of China. For the first time in decades, Volkswagen's board of directors is reconsidering Factory closure and layoffs in Germany.