Stage Set For MAN's Outperformance

German commercial vehicle manufacturer MAN has won an order for the delivery of 2,188 engines to Russian bus maker Likinski Axtobusny Zawod (LIAZ) in a deal which highlights MAN's growing presence in the Russian commercial vehicle market. Indeed, estimates from the Commercial Vehicle Committee of the Association of European Businesses (AEB) indicate that MAN is currently one of the most successful foreign players in the Russian commercial vehicle segment. We expect the carmaker to continue outperforming the overall market, owing to increasing demand for foreign brands in the country, MAN's strong local client base and its plans to launch local

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