Daimler’s Renschler Says Global Truck Market Recovering Slowly

The head of Daimler AG’s truck unit said worldwide truck demand may take several more years to return to pre-recession levels, Bloomberg reported Wednesday.

The western European market will bottom out this year and post a “slight” increase for the full year, Andreas Renschler said near Daimler’s headquarters in Stuttgart, Germany, Bloomberg reported.

U.S. demand will rise by about 15% and emerging markets in Brazil, China and India will continue “stable” growth, he said.

Renschler said the truck unit’s sales will be less than the 472,100 trucks delivered in 2008, adding he would “be happy to return to 2004 levels in two to three years.”

Daimler sold 408,000 trucks in 2004, compared with 259,000 last year, Bloomberg reported.

Daimler Trucks makes Freightliner models in North America, Mercedes-Benz heavy vehicles in Europe, and Fuso trucks in Asia.