Daimler’s First-Quarter Truck Sales Rise
Daimler AG said Friday its trucks division posted a 21% jump in first-quarter sales to 107,700 vehicles, as demand in North America and Asia more than made up for declines in Europe and Latin America.
Earnings before interest and taxes at the trucking division fell 7.3% to $507 million, Stuttgart, Germany-based Daimler said in its first-quarter earnings statement.
Global truck revenues rose 18% to the equivalent of $9.69 billion for the quarter, but operating profit declined by 7% to $502.5 million.
North American sales — including Freightliner and Western Star Trucks — boomed the most strongly of any geographical region, by 42% to 27,432 trucks sold.
Daimler said its worldwide truck profits declined because of “expenses relating to the current product offensive,” most of which appears to be happening outside of North America.
Besides its North American truck nameplates, Daimler also makes Mercedes-Benz and Fuso commercial-vehicle brands.
Daimler this month unveiled a huge new factory in India to make trucks under the Bharat Benz name in that country. (See the story in this week’s print edition.)
