Traton

Dealers, service partners and importers of MAN are investing around €400 million more, bringing the total for expanding the sales and service network to about €700 million by 2030. MAN had previously pledged €300 million; the money will go into new hubs, modernizations and, about one third, into e-mobility and digitization. The aim is for nearly 80% of customers to be able to reach a workshop within 30 minutes in the future. » Plus sur finanzen.net

UBS downgraded Traton from buy to neutral and at the same time raised the price target from 39 to 41 euros. The bank calls the margin target conservative, but sees persistently weak demand at the commercial vehicle manufacturer and signals that the market consensus already partly takes this into account. The stock is reacting noticeably weaker. » Plus sur finanzen.net

Traton CEO Christian Levin says pressure from the parent company forces a frugal approach to costs and investments and raises the possibility of reducing VW’s stake. VW currently holds 87.5% of Traton, having already lowered its holding from 89.7%. A larger free float should attract new investors and make the holding company’s economic performance better reflected in the stock; however, the decision rests with VW. » Plus sur heise.de