TKM out of MAN-VW
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TOZER KEMSLEY AND MILLBOURN has withdrawn its 37 per cent shareholding from MAN-VW Truck and Bus, with Volkswagen UK (VAG) doubling its share to 74 per cent. The West German VAG and MAN companies hold the remaining two 13 per cent shares.
An immediate result is that the Volkswagen LT van will now be marketed and sold through VAG's Milton Keynes headquarters along with the Transporter van and VW's Golf van. In the two years since LT sales have been in MAN-VW's hands, its market share has fallen from 17.7 per cent to 13.6 per cent, but the market has also become much more competitive.
MAN Truck and Bus will continue to operate as an independent company, but as a separate division of VAG UK, selling MT. HT goods vehicles, and SR coaches.
A VAG spokesman said this week that it was too early to say how the change will affect the structure of the sales and marketing of the range, but that a detailed appraisal will take place.