Convoy? Toyota's Hino to Join Forces With Volkswagen's Truck Unit
Volkswagen AG and Toyota Motor Corp are forming a truck-based alliance, allegedly to cut R&D costs. While the two automakers joust for the title of biggest in the world, their trucking arms must have had a rough 2017 to necessitate an alliance solely on the grounds to limit development expenditures… right?
Not exactly. Volkswagen Truck & Bus actually had a really good year. Strong sales pushed revenues up 12.1 percent, and operating profits before special items increased by 26.8 percent (for over $2.41 billion). Meanwhile, Toyota’s Hino saw operating profits improve by 21.5 percent. So why bother with the alliance of both truck builders saw strong returns based on their respective sizes?
Matt Posky Apr 13, 20184