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VW bid for Navistar.........


TP from Central PA

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So sad! How many original US owned major manufacturers are still in operation....original being the important word here.....a few I can think of....Navistar, Ford, Deere, Cat.......

 

 

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On 2/4/2020 at 10:46 AM, jass1660 said:

Paccar engine along with Kenworth wiring. They are a nightmare no power no economy emission problems galore had two now that have melted the over cab fairing off during regens.

Yeah i bet.  No one like them PX engines locally.  I know the milk trucks have the 330hp variant for 105500#   guys are not impressed.  There is 1 90s T800 with a 400 Cummins....they all hope to see it when the switch shifts.  Still have to crack a window to shut door so tight.  Locally I see almost all KW 660 Brown trucks on dbls.  You guys must just shop and get best price?  Hay guy has 3 Fliner gliders.  Says totally problem free.  DD15 and 07 EPA.  But even the cabs etc are just fine.

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  • 5 months later...

VW isn't giving up yet.  From Automotive News today:

September 10, 2020 11:14 AM UPDATED 19 HOURS AGO

VW’s Traton boosts bid for rest of Navistar to $3.6 billion

Volkswagen Group's heavy-truck business boosted its bid for Navistar International Corp., offering to buy the rest of the U.S. manufacturer for $3.6 billion.

Traton increased its offer to purchase the portion of stock it doesn’t already own to $43 a share, up from $35 a share offered in January, according to a statement. Bloomberg News reported last week that the VW division was seeking to restart negotiations this month to win over Navistar’s management and main shareholders, which include billionaire investor Carl Icahn.

Navistar shares closed Thursday's trading up 13.8 percent to $40.78.

By acquiring Lisle, Ill.-based Navistar, VW would secure a strong position in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo AB. VW said in a separate statement that it will provide funds for the financing of Traton’s increased offer.

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Guys hate to tell you this but look at any publicly traded company. You have investors, some with very deep pockets who own large chucks of stocks in countries around the globe. Investors like Warren Buffet and George Soros. So if publicly traded who really owns it? Investors in Asia, India, Japan, Europe and the Americas. I don't know how to fix that.

Now follow that up. If a company like Navistar isn't doing things right they either fail and go away or they get bought out. Old man McCormick has nothing to do with it. Yes a piece of history will be just that, history. It's his legacy that is dying, the history will still be there.

Rick

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21 minutes ago, Gearclash said:

As an interesting tangent to this, go look at how VW’s share of the automotive market has increased in the last years. I’m guessing they have cash burning holes in there suit pants pockets. 

Sounds like a quick way to burn through all that cash. Just ask TENNCO. Glad they did.  Don't get me wrong but from a TENNCO standard it wasn't the wisest money decision.

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4 minutes ago, jass1660 said:

Maybe they could finally build a half way decent truck then.

Maybe, but if it's like their cars, god help you when you do have to work on them.

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33 minutes ago, jass1660 said:

Have you ever looked under the hood on one with a Maxxfoce engine? Total nightmare.

Nope, not allowed to be near anything that new?. Our 9370 is a 88 model. Before the invasion of all the electronics. 

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Sad thing in all of this is Europe is pretty much buying up all our heavy industry involved in transportation products.  Volvo pretty much denutted Mack, Daimler changed Freightliner drastically, Fiat pretty much ruined CaseIh and New Holland.  Volkswagen acquiring Navistar will be nothing but an europeanizing that company too and a complete change of identity.  Absolutely no pride anymore in company roots save for the green boys, and Caterpillar.  

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4 hours ago, Gearclash said:

As an interesting tangent to this, go look at how VW’s share of the automotive market has increased in the last years. I’m guessing they have cash burning holes in there suit pants pockets. 

VW and Ford are also beginning to go to each others' houses to "study".  Before long, they will be going steady.

Also, Honda & GM were caught passing notes in class in the last couple of weeks.

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12 hours ago, EquipmentJunkie said:

VW and Ford are also beginning to go to each others' houses to "study".  Before long, they will be going steady.

This is old news. Ford and Volkswagen announced in January of 2019 a partnership.

Why Ford and VW Are Partnering Up, but Won’t Be Merging Anytime Soon

By Al Root

Jan. 15, 2019 9:40 am ET

Ford Motor (F) and Volkswagen (VOW.Germany) provided more details about their global partnership agreement Tuesday morning—an agreement that is all about the car business of the future. The two automotive giants will collaborate on electric cars, autonomous vehicles and shared mobility services.

The partnership is all about costs too, because developing this new technology is going to be very expensive. VW CEO Dr. Herbert Diess told investors on the conference call that the rapid pace change in the automotive industry is going to require large capital commitments.

But Diess may have disappointed some investors when he ruled out Ford and VW cross equity ownership. It appears a blockbuster automotive merger isn’t in the offing soon.

On the surface a match between Ford and VW match makes sense. Ford is strong in the U.S. and VW is strong in Europe and China. Ford is a dominant truck maker and Volkswagen has higher operating margins making more sedans. VW and Ford will also jointly develop light trucks and vans.

Deloitte global automotive practice leader Joseph Vitalle told Barron’s in an interview at the North American International Auto Show that “large car mergers generally don’t work. It’s tough to get cost benefits, Countries are sensitive about their car companies and often sit on the boards of those companies.” He went on to explain that a manufacturing job generates about seven additional jobs in an economy. That’s another reason that car manufacturing often becomes a political issue.

Don’t expect near-term earnings estimates to change though. Ford CEO Jim Hackett explained that partnership benefits will start to accrue in 2022 to 2023.

New car technology is exciting. Exciting and expensive. That’s why there are likely to be more partnerships announced between global auto makers designed to share platforms and plants in the future.

The benefits of new partnerships will be difficult to quantify. But hopefully, shared costs can raise returns for auto makers over time and that could improve valuation multiples. Ford trade for just 7 times trailing earnings per share. Its stock has gained 0.9% to $8.91.

 
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12 hours ago, EquipmentJunkie said:

Also, Honda & GM were caught passing notes in class in the last couple of weeks.

GM press release regarding joint partnership with Honda.

General Motors and Honda to Jointly Develop Next-Generation Honda Electric Vehicles Powered by GM’s Ultium Batteries

General Motors and Honda to Jointly Develop Next-Generation Honda Electric Vehicles Powered by GM’s Ultium Batteries

2020-04-02

  • Builds on GM’s proven advanced technology relationship with Honda
  • Honda will develop unique interior and exterior designs for Honda customers
  • EVs will be produced on GM’s flexible global EV platform to increase scale and capacity utilization

DETROIT and TORRANCE, Calif. General Motors and Honda have agreed to jointly develop two all-new electric vehicles for Honda, based on GM’s highly flexible global EV platform powered by proprietary Ultium batteries. The exteriors and interiors of the new EVs will be exclusively designed by Honda, and the platform will be engineered to support Honda’s driving character.

Production of these Honda electric vehicles will combine the development expertise of both companies, and they will be manufactured at GM plants in North America. Sales are expected to begin in the 2024 model year in Honda’s United States and Canadian markets.

GM and Honda have an ongoing relationship around electrification. This includes work on fuel cells and the Cruise Origin, an electric, self-driving and shared vehicle, which was revealed in San Francisco earlier this year. Honda also joined GM’s battery module development efforts in 2018.

“This collaboration will put together the strength of both companies, while combined scale and manufacturing efficiencies will ultimately provide greater value to customers,” said Rick Schostek, executive vice president of American Honda Motor Co., Inc. “This expanded partnership will unlock economies of scale to accelerate our electrification roadmap and advance our industry-leading efforts to reduce greenhouse gas emissions.”

“We are in discussions with one another regarding the possibility of further extending our partnership,” Schostek said.

According to Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, “This agreement builds on our proven relationship with Honda, and further validates the technical advancements and capabilities of our Ultium batteries and our all-new EV platform.

“Importantly, it is another step on our journey to an all-electric future and delivering a profitable EV business through increased scale and capacity utilization. We have a terrific history of working closely with Honda, and this new collaboration builds on our relationship and like-minded objectives.”

As part of the agreement to jointly develop electric vehicles, Honda will incorporate GM’s OnStar safety and security services into the two EVs, seamlessly integrating them with HondaLink. Additionally, Honda plans to make GM’s hands-free advanced driver-assist technology available.

General Motors (NYSE: GM) is a global company committed to delivering safer, better and more sustainable ways for people to get around. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, CadillacHolden, Baojun, and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, and Maven, its personal mobility brand, can be found at http://www.gm.com.

Honda Motor Co. (NYSE: HMC), Honda designs, manufactures and markets automobiles, motorcycles, power products and aviation products worldwide. A global leader in powertrain and electromotive technologies, Honda produces nearly 28 million engines annually for its three product lines. Honda and its partners build products in more than 60 manufacturing plants in 27 countries, employing more than 208,000 associates globally.

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3 hours ago, RichardDSalyer said:

This is old news. Ford and Volkswagen announced in January of 2019 a partnership.

You are absolutely correct that this is old news...but very few people are aware of it.  That's why I mentioned it and the recent GM/Honda agreement.

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Honda has partnered GM before when they didn't have a SUV they sold Honda badge  Isuzu rodeos with GM V6s.

That may have helped GM in the short term but Honda later developed their own SUVs and took a lot market share away from GM.

Whatever happened to the wipe out the competition altitude? 

Honda needs the EV technology to stay in the EU market that has mandated EVs by 2025.

So Gm will get a short term boost to make capacity more efficient and Honda will develop their own EV technology and clean GMs clock again.

When will America learn that we need to guard our knowledge not share it with the world so it can be used against us.

And Navistar just carried on the poor management decisions that lead to demise of IH.

 

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