Daimler Trucks Reports 50% Growth in Operating Income, Record North American Sales in 2Q
Daimler AG reported a 50% increase in operating income at its global truck division in the second quarter, led by record sales in North America.
The Stuttgart, Germany-based manufacturer said earnings before interest and tax at its commercial truck unit jumped to a record 682 million euros (about $747 million) from 455 million euros ($498 million) in the same period last year. Revenue grew 19% to 9.44 billion euros from 7.97 billion a year earlier.
“The main drivers of this earnings development were increased unit sales in the Nafta region and Western Europe, positive exchange-rate and interest-rate effects and the realization of further efficiency improvements,” the manufacturer said in its July 23 report.
Daimler Trucks, which sells Freightliner and Western Star models in North America, said second-quarter sales in the region climbed 20% to a record 49,388 units, including a 22% gain to 43,703 units in the United States. Worldwide sales dipped 1% to 125,113 trucks.
Daimler said it expects the market for medium- and heavy-duty trucks to vary from region to region during 2015 and pointed to North America and Europe as the most promising markets.
“In North America, the main economic indicators suggest that demand for trucks will remain favorable despite a slight cooling off, so the market should expand by between 10% and 15%,” the company said.
Daimler captured 35.9% of the total North American Class 8 market during the second quarter, up from 33.8% a year earlier. The company said its Classes 6-7 market share in the region rose to 40.9% from 40.5%.
