MUNICH (Reuters) - Volkswagen's (DE:VOWG_p) truck division is targeting a significant increase in profitability this year as it benefits from rising demand in Europe and China and a slight rebound in the key Brazilian market, its finance chief said.
After years of slumping demand for heavy-duty trucks and buses in Brazil, there is a possibility that growth will accelerate there next year, Matthias Gruendler told journalists on Monday.
The division, which also includes heavy-duty commercial vehicle brands MAN (DE:MANG) and Sweden's Scania, has a long-term operating margin target of 9 percent compared with 6.1 percent last year, chief executive Andreas Renschler said.