DETROIT - Volkswagen AG may have lost the chance to buy Swedish truckmaker Scania AB but vows to search for other deals.
'You always look around; see how the developments are,' said Jens Neumann, a member of the Volkswagen AG board of management. 'That's your strategic duty to do so.'
VW is interested in acquiring a heavy-truck business to fill a gap in its product portfolio. The German automaker, which makes light-commercial vehicles, had its eye on Scania, a maker of heavy trucks.
But VW's interest waned last year because Scania was too expensive, Neumann said during an interview at the North American International Auto Show.
'If the opportunity arises, fine,' Neumann said. 'If not, we can always go it alone.'
AB Volvo is waiting for the European Union to approve a $6.1 billion buyout of Scania. Regulators are examining whether the combination of Swedish rivals would throttle competition.
Ferdinand Piech, Volkswagen chairman, said last year that Volkswagen needs heavy trucks, particularly trucks 18 to 20 tons, within the next five years, 'or we will lose business.'
Volkswagen now makes trucks up to 2.5 tons. Neumann said VW could build trucks in Brazil.