Commercial vehicles - Daimler Trucks suffers further setback in sales
Daimler Truck, the commercial vehicle manufacturer, sold significantly fewer trucks and buses in the second quarter of the year compared to the previous year. The Dax group sold a total of 112,195 trucks and buses from April to June. This represents a decrease of 15 percent compared to the same period last year, as the company based in Leinfelden-Echterdingen near Stuttgart reports.
The division represented mainly in Europe and Latin America, Mercedes-Benz, sold 22 percent fewer vehicles. The decline was even 29 percent in the less profitable Asian market. The largest and most profitable market for the company, North America, also saw a 5 percent decrease in sales. The bus division, on the other hand, recorded an 8 percent increase in sales.
Weak economy burdens sales
In the first half of the year, Daimler Truck sold a total of 221,106 trucks and buses (a decrease of 14 percent). The Swabians have been observing declines in orders since the order and sales boom after the Corona pandemic in Europe for some time. In particular, the weak economic development in Europe is burdening the confidence of transport companies.
Daimler Truck expects to sell between 490,000 and 510,000 units in this year based on forecasts from the spring. The company sold 526,053 vehicles in 2023. The expected decline is explained by the company with difficult economic framework conditions and the absence of catch-up effects.
Detailed financial figures and order intakes from the second quarter will be presented by Daimler Truck on August 1, 2023.
- Daimler Truck, with roots in Baden-Württemberg, Germany, operates in the automotive industry, specializing in vehicle construction and manufacturing commercial vehicles.
- The headquarters of Daimler Truck is located in Leinfelden-Echterdingen, near Stuttgart, and its vehicles are also sold extensively in Latin America.
- Despite being a significant player in the European automotive industry, Daimler Truck's division Mercedes-Benz has experienced a 22% decrease in vehicle sales in the second quarter, and an even steeper 29% decline in the Asian market.
- The stronghold market for Daimler Truck, North America, also saw a more moderate 5% decrease in sales, while the bus division recorded an 8% increase.
- The weak economy in Europe has negatively impacted the confidence of transport companies, contributing to the overall decrease in orders for Daimler Truck's vehicles.
- Despite the challenges in the European market, Daimler Truck is forecasting to sell between 490,000 to 510,000 units in 2023, representing a decline from the 526,053 vehicles sold in 2022.
- Detailed financial figures and order intakes from the second quarter of 2023 will be presented by Daimler Truck on August 1 in Stuttgart, providing more insight into their performance in the global automotive industry.
