Home Business Mercedes denies report that it has discussed sale of van business

Mercedes denies report that it has discussed sale of van business

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The Mercedes-Benz logo is pictured at the 2019 Frankfurt Motor Show (IAA) in Frankfurt, Germany, September 10, 2019. REUTERS/Ralph Orlowski/File Photo

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FRANKFURT, June 23 (Reuters) – Mercedes-Benz (MBGn.DE) denied a German media report that it was weighing a sale of its vans business as the automaker plans to put more strategic weight on high-end vehicles.

The weekly Manager Magazin on Thursday said a possible sale of the vans business – previously seen as sacrosanct – was being discussed as a measure of last resort, citing supervisory board sources.

“This is pure speculation which we expressly deny,” a company spokesperson said when asked to respond to the report.

Mercedes-Benz said in May it would focus more narrowly on the luxury segment and cut out some entry-level models with lower margins, part of a plan to put 75% of investment into top-end vehicles and its highest-selling segment of…

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