Daimler Finance Chief Sees Slow ’08 for U.S. Truck Sales

Daimler Financial Services Americas may make fewer loans to finance purchases of commercial trucks in 2008, and its chief executive officer sees a slow year ahead for U.S. truck sales, Bloomberg reported.

Next year will be “a slow year,” as a weakening U.S. economy crimps orders, said Klaus Entenmann, CEO of the $30 billion lending arm of Daimler AG in North and South America, Bloomberg reported.

Forecasts for a slowdown in freight shipments and the sluggish home-construction market make it unlikely that sales of heavy trucks will improve in 2008, Entenmann told Bloomberg in an interview.

Daimler Financial is being weighed down by a 38% drop in U.S. sales of Daimler’s Freightliner trucks this year, Bloomberg reported.

Entenmann said Daimler Financial intends to expand through its insurance business, Bloomberg reported.