Daimler truck revenue flat, profits jump
Daimler reported Wednesday that second quarter revenue in its truck segment were mostly flat to the same period last year at $10.74 billion, while profits jumped 5 percent to $612 million.
“We are growing profitably, our strategy is bearing fruit,” Dr. Dieter Zetsche, Chairman of the Board of Management of Daimler AG and Head of Mercedes-Benz Cars said through a statement. “We are steadily continuing along our path. We are satisfied with the second quarter and continue to work consequently on structural improvements.”
Worldwide, truck sales of 126,100 trucks were 2 percent higher than in the prior-year period. Truck sales in the U.S., Canada and Mexico climbed 18 percent to 41,100 units, giving the company a 36 percent market share in classes 6-8.
“From today’s perspective, global demand for medium- and heavy-duty trucks in the year 2014 can only be expected at around the level of last year,” Daimler said in a statement. “With the exception of the North American market, difficult conditions are still anticipated for most of the major markets.”
Daimler Trucks says it anticipates a slight increase in overall unit sales in the year 2014.
“In the NAFTA region, unit sales should develop positively in view of the expected market growth and should be significantly higher than in the year 2013.”