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Volkswagen's (VLKAY) MAN to Invest $2.8B in Plant Upgrade
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Per Reuters, Volkswagen AG’s commercial-vehicle division MAN reported that it will be investing €2.4 billion ($2.8 billion) to upgrade its plants in Europe, Asia and Africa by 2020. The upgrade will be done in an effort to boost profits and revamp production facility.
In order to challenge its competitors like Daimler AG in the global truck business, Volkswagen has been integrating its MAN and Scania divisions to share development of engines, transmissions, emissions-treatment systems and axles.
Of the total investment, €1.1 billion will be spent on a new paint shop for drivers’ cabins and research and development facilities at MAN’s Munich headquarters. The division has production sites across three European countries. Also, it has presence in Russia, South Africa, India and Turkey.
Per management, it will invest a huge sum on electric mobility with battery-powered buses, expected to be unveiled in 2018.
In October, Volkswagen announced plans to invest €1.4 billion ($1.7 billion) over the next five years to develop electric powertrains for its trucks and buses, autonomous systems and cloud-based software.
Price Performance
The stock has gained 4.9% in the last 30 days, outperforming the 2% rise of the industry it belongs to.
Zacks Rank & Key Picks
Both Volkswagen and Daimler carry a Zacks Rank #3 (Hold).
A few better-ranked companies in the auto space include American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and Navistar International Corporation , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Volkswagen has an expected long-term growth rate of 12.3%.
Daimler has an expected long-term growth rate of 2.8%.
American Axle has an expected long-term growth rate of 8.1%.
Navistar has an expected long-term growth rate of 5%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Volkswagen's (VLKAY) MAN to Invest $2.8B in Plant Upgrade
Per Reuters, Volkswagen AG’s commercial-vehicle division MAN reported that it will be investing €2.4 billion ($2.8 billion) to upgrade its plants in Europe, Asia and Africa by 2020. The upgrade will be done in an effort to boost profits and revamp production facility.
In order to challenge its competitors like Daimler AG in the global truck business, Volkswagen has been integrating its MAN and Scania divisions to share development of engines, transmissions, emissions-treatment systems and axles.
Of the total investment, €1.1 billion will be spent on a new paint shop for drivers’ cabins and research and development facilities at MAN’s Munich headquarters. The division has production sites across three European countries. Also, it has presence in Russia, South Africa, India and Turkey.
Volkswagen AG Price and Consensus
Volkswagen AG Price and Consensus | Volkswagen AG Quote
Per management, it will invest a huge sum on electric mobility with battery-powered buses, expected to be unveiled in 2018.
In October, Volkswagen announced plans to invest €1.4 billion ($1.7 billion) over the next five years to develop electric powertrains for its trucks and buses, autonomous systems and cloud-based software.
Price Performance
The stock has gained 4.9% in the last 30 days, outperforming the 2% rise of the industry it belongs to.
Zacks Rank & Key Picks
Both Volkswagen and Daimler carry a Zacks Rank #3 (Hold).
A few better-ranked companies in the auto space include American Axle & Manufacturing Holdings, Inc. (AXL - Free Report) and Navistar International Corporation , both sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Volkswagen has an expected long-term growth rate of 12.3%.
Daimler has an expected long-term growth rate of 2.8%.
American Axle has an expected long-term growth rate of 8.1%.
Navistar has an expected long-term growth rate of 5%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>