Rivals show interest in Mahindra’s Indian partner Navistar
US based renowned truck manufacturer, Navistar might be up for sale and major manufacturers including Volkswagen and Fiat might be bidding for the priced possession. Volkswagen who has two truck brands, Scania and MAN under its name might have some big plans to acquire the loss making firm, Navistar International. The other company in the race is the Italian manufacturer, Fiat who has the brand Iveco under its name.
Navistar and Indian brand Mahindra joined hands together in 2005 to expand its business in India and a sell-out of the American company at this time might play a spoil-sport for Mahindra’s future plans in the country. Currently, M&M sells heavy trucks starting from 25 tonne to 49 tonne under the 51:49 joint venture company Mahindra Navistar.
Navistar’s network in US will prove to be a good way for any manufacturer to get hold of the US market. Navistar posted net sales of 13.95 billion USD last financial year. The JV also plans to launch up to six India specific models.