X

Daimler Q1 sales dip, expectations lowered

Jason Cannon April 24, 2013

Daimler AG said in its earnings call Wednesday the company’s first-quarter North American truck sales dipped 3 percent and global truck sales fell 6 percent.

“In the first three months of this year, many markets developed worse than expected for economic reasons, especially Western Europe,” Chief Executive Officer Dieter Zetsche said in the company’s report.

Earnings from Daimler’s truck division plummeted 69 percent to $151 million, down from $489 million in the same period last year.

Daimler lowered its full-year profit forecast, saying it expected full-year operating profit to be “below the previous year’s level.”

Daimler execs say they expect “a slight increase in unit sales in the full year,” adding the “continued weak state of the economy will probably lead to a rather modest or even negative development of unit sales in a number of core markets” in the first half the year.

The company says it sold 26,641 trucks in North America in the quarter, while its dealers sold 27,981 trucks, up 7 percent from the year before.

Overall, Daimler retail sales were down 4 percent.

Poll

Have you revised your truck sales forecast for 2015 in the past 6 months?

Latest

Peterbilt concludes 75th anniversary show in California

Bendix Spicer investing $8.7 million in manufacturing facility

KPA rolls out upgrade of myKPAonline

Popular

Albuquerque tech takes top Rush honors

Peterbilt concludes 75th anniversary show in California

DAY 2 GALLERY: Rush Truck Center Tech Rodeo

Successful Dealer Award

Click here to read about the award and see the nominees for this year's award.