Daimler truck profit nearly doubles year-over-year
Daimler AG announced Thursday that profits from its global truck division nearly doubled in the fourth quarter from a year ago.
Daimler Trucks recorded earnings of $762 million – a 92 percent jump from the previous year’s quarter. Revenue grew 9 percent to $11.5 billion. The truck segment’s unit sales climbed 19 percent to 134,550, the company said.
A bustling truck business could’t drive profitability company-wide. The German truck and car manufacturer reported a 36 percent drop in net profit to $2.27 billion, despite an 8 percent revenue growth.
“After the world market for medium- and heavy-duty trucks expanded perceptibly in 2013 despite difficult market conditions, further moderate growth in global demand is expected this year,” the company said in its Thursday release.
In North America, Daimler said it anticipates “significant” market growth of up to 10 percent due to “the increasingly dynamic economy.”