MAN and Scania sell assets and business in Russia

MAN and Scania sell assets and business in Russia


 

Autostat.- The truck manufacturers German MAN and Swedish Scania intend to sell their shares in dealerships in Russia to local partners.

The financial division of Scania, which provided leasing of trucks, will also be sold. The transactions are expected to be completed by the first quarter of 2023.

Traton does not expect profit from the sale of Russian assets of MAN and Scania. On the contrary, the loss from this transaction in the company is estimated at 550 million euros.

As reported by Traton, the Russian plant near St Petersburg, which produced MAN and Scania trucks, remains the property of the concern.

Recall that MAN and Scania in March 2022 decided to stop deliveries of trucks and buses, as well as spare parts to Russia and stop production at an enterprise in St. Petersburg.

According to Autostat, within the first eight months of 2022, the Scania sales has amounted to 1,124 trucks (-78%), and the brand’s market share has decreased to 2.2% from last year’s 8.1%. Sales of MAN trucks in the aforementioned period decreased by 77% to 730 vehicles, and the market share was 1.4% against 5% a year earlier.