Daimler Sees Signs of Rebounding Market, Higher Truck Orders
Daimler AG officials said its trucks division is focused on boosting its vehicle sales, profit and market share this year on higher truck orders and expansion in emerging markets including Brazil, Bloomberg News reported Wednesday.
While the start of the year has been sluggish, the company predicts business will pick up in the second half of the year, Andreas Renschler, head of Daimler Trucks, said at a press conference in Woerth, Germany, Bloomberg said.
Renschler will step down as head of Daimler Trucks on April 1 and move to the company’s Mercedes-Benz unit. He will be succeeded by Wolfgang Bernhard.
The company expects demand in Brazil to rise by as much as 10% this year, helping to offset a decline of as much as 5% in Europe and weakening in the North American market, Bloomberg said
Following its January announcement that lower U.S. demand would lead it to cut about 1,300 North American truck production jobs, Daimler Trucks North America President Martin Daum said this week that the layoff figure was likely to be “significantly lower,” in part due to rising truck orders.
DTNA makes Freightliner and Western Star brand trucks in North America as well as Detroit brand engines, transmissions and axles.
