International location strategies of the European commercial vehicle manufacturers Lecture by

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1 International location strategies of the European commercial vehicle manufacturers Lecture by Håkan Samuelsson Chairman of the Executive Board, MAN AG

2 Location strategies are greatly impacted by expected market developments in various regions, as well as the corresponding cost structures. Markets The world s leading markets for trucks over six tons GVW are located in western Europe, North America and Asia. Economic developments indicate a generally stable upward trend in commercial vehicle markets in The regions that will post the strongest growth in the segment for trucks over six tons GVW are eastern Europe (including the CIS), Asia and the Middle East and, over the long term, Latin America. The world s leading markets for buses are currently located in Asia, Europe, North America and South America and the highest rates of growth are also expected to be recorded in these regions. Costs Labor costs in Germany are among the highest in the world, and this competitive disadvantage must be offset through higher productivity and the establishment of production locations in lowerwage regions to create a more favorable cost mixture. Business goals and location strategies Most manufacturers aim to achieve growth on an international level, strengthen their market position, boost profitability and lower costs. To do this, they must establish and expand their presence in growth regions, optimize their international production networks and cost mixture, and pursue or intensify existing cooperative ventures. MAN s location strategy

3 MAN s international growth strategy focuses on its European home market and penetration into the high-potential markets of eastern Europe, the CIS, Asia/Middle East and Latin America. In order to implement this strategy, MAN Nutzfahrzeuge manufactures premium products tailored to the needs of customers in specific markets. The vehicles are designed to set standards in quality, reliability, safety and environmental friendliness wherever they are sold. Focus on the production network MAN is expanding its production network in order to be able to offer vehicles at competitive prices and to stay in touch with the needs of specific markets: - Eastern Europe/CIS: Heavy-duty trucks for eastern Europe and overseas markets will be produced at a new truck plant in Krakow, Poland. - Asia / Middle East: A new truck plant was opened In Pithampur, India, by MAN FORCE TRUCKS Pvt. Ltd. on April 30, The facility will produce heavy-duty trucks over 16 tons GVW, the first of which will roll off the line in October Mexico/Latin America: A new bus manufacturing plant was opened in Queretaro, Mexico, in early June Our factories in Poland and India bring us closer to these markets, and will also enable us to optimize transport costs in the logistics chain. The inclusion of local suppliers in the production process will increase customer acceptance and in some cases lead to less restrictive trade barriers for MAN. It costs us much less to produce at these facilities than it would in Germany, as labor and material costs are significantly lower. In fact, if we had to pay German prices for labor and materials, we would never be able to sell the vehicles we are now producing in India and Poland to customers in the markets we are targeting. It is only through the additional capacity created at these locations, and the corresponding lower costs, that MAN will be able to reach its overall sales targets. The new plant near Krakow, Poland

4 The new production facility located near Krakow, Poland, will mainly manufacture the TGA WorldWide truck. Production will begin in mid-2007; annual capacity will be 15,000 units, and 650 workers will be employed over the medium term. The TGA WorldWide truck is part of the TGA product family and is produced on the same platform as other TGA models. All production locations for heavy-duty trucks thus employ the same manufacturing system, which makes for highly efficient overall production. The TGA WorldWide truck is based on proven technology and is built using very robust fittings a key competitive advantage in the markets in which it is sold. It comes with equipment packages perfectly tailored to the needs of its target markets, thereby enabling MAN to offer a specialized product that meets individual market requirements. The product portfolio has been expanded to include 19-ton 4x2 semitrailers and 33-ton 6x4 semitrailers. The powertrain compatibility extends up to Euro 3; technical complexity has been reduced intentionally. The truck will be offered with several different equipment packages. MAN FORCE TRUCKS Pvt. Ltd., India A total of 24,000 vehicles will be built each year over the medium term in Pithampur, India; half will be sold in the country and the other half will be exported to other Asian countries and Africa. Production for the Indian market will be launched in October 2006, and the vehicles will be sold by our joint venture partner, Force Motors. Sales outside of India will be launched in March 2007, and will be handled by the MAN Nutzfahrzeuge sales organization in cooperation with the sister company MAN Ferrostaal and other companies. The Cargo Line (CLA) series will mark the start of production in India of a new vehicle tailored to Asian and African markets. The CLA will also be manufactured on the basis of proven MAN technology and will be offered as a premium product in Asia but one tailored to meet the needs of customers in the region. The plant will produce heavy-duty trucks over 16 tons GVW equipped with D08 engines and the L2000 cab. The trucks will come in the variants 4x2, 6x2, 8x2 and 6x4. The series will be equipped with a robust chassis and a simple equipment package. Local suppliers will provide the full range of parts by mid MAN technology will be used in the driver cabs, axles and engines.

5 Bus assembly plant in Mexico On June 1, 2006, MAN put into operation a new commercial vehicle production facility in Queretaro, Mexico. The plant will initially assemble complete buses such as the MAN Lion s Coach L, as well as bus chassis. The production facility will be incorporated into the MAN Nutzfahrzeuge bus manufacturing network; the MAN business area for Industrial Services (MAN Ferrostaal) will be responsible for vehicle sales and service. Over the next few years, the sales and service network including certified external partners will be expanded to 16 centers throughout the country. Some 1,000 MAN vehicles are currently on the road in Mexico, and MAN already has a market share of 40 percent for upper-range bus chassis, making it the leader in that segment. The Mexican plant will have a production capacity of 1,000 buses per year. International truck sales increasing MAN has achieved impressive growth in truck sales over the last 20 years. A total of 68,200 MAN trucks were sold in 2005 three-and-a-half times as many as 20 years ago. The company s goal is to sell 100,000 trucks or more per year by 2010, and achieve annual sales of 10,000 buses or more by that time as well. Western Europe holds practically no further growth potential for truck manufacturers. As such, MAN s international growth strategy for trucks is geared toward stepping up activities in the promising markets of eastern Europe, the CIS and Asia/Middle East, as well as maintaining a focus on its western European home market. Sales focus Sales operations are being expanded in line with MAN s international growth strategy. MAN seeks to achieve an 18 percent medium-term share of the truck market in western Europe, primarily through growth in France, Italy and the UK. Investment in the expansion of the sales network in eastern Europe and the CIS will serve to boost sales in those regions.

6 Sales in India will be handled by the joint venture MAN FORCE TRUCKS Pvt. Ltd., while the remaining areas of Asia will be covered in cooperation with MAN Ferrostaal. A sales partnership with MAN Ferrostaal is also in effect in Mexico und Latin America. Establishment of additional regional offices Several regional offices are being established in order to consolidate the sales activities of the MAN business areas and to actively exploit local networks. As part of this approach, network structures are being shared, fixed costs are being lowered, knowledge is being exchanged, and further synergies are being generated. The mission of the regional offices is to prepare their regions for the broad-scale market entry of MAN Group products. The MAN House in Dubai, which is already up and running, focuses on commercial vehicles. Other offices are currently being planned for Moscow, Beijing and Mexico (Latin America). We will thus be in a position to cover all of our major markets. Summary MAN s location strategy focuses on the markets with the greatest potential at the moment: Eastern Europe and the CIS, Asia/Middle East and Latin America. Our presence is being systematically expanded worldwide through new production and sales locations, and our strategy also emphasizes building vehicles tailored to the specific needs of customers in developing countries and emerging markets. In order to implement our growth strategy, we are investing in creating additional capacities abroad. Research and development activities will continue to be focused in Germany, however.

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