Following
the sale of its 3.3 percent slice of Mitsubishi to DaimlerChrysler, Volvo Truck
has announced it will stop selling and servicing Mitsubishi’s light-duty Canter
truck model in the UK, France, Italy, Poland, Sweden and Canada from this autumn.
Volvo acquired five per cent of the shares in the parent company MMC and the
two companies signed a strategic alliance in October 1999. The prerequisite
for the agreement changed when DaimlerChrysler Group purchased 34 percent of
the company last year through newly issued shares, thereby reducing Volvo’s
share to 3.3 percent.
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By GlobalData“The alliance between Volvo and MMC is hereby terminated and the co-operation
will come to an end,” Volvo Trucks said in a statement.
“This means that the joint project to develop a medium-duty truck will
also stop.”
Volvo Truck has distributed Canters since 1997 and 8,000 vehicles have been
sold so far.
Distribution, spare parts and service will be handled by Merecedes Benz dealers
from the autumn.
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