Daimler Predicts Higher Truck Sales in 4Q
Daimler AG predicted a higher fourth-quarter profit on gains at its trucks and vans divisions, Bloomberg reported Thursday.
The maker of Freightliner and Western Star trucks projected “strong” growth in truck sales, Bloomberg said. Freightliner and Western Star are brands of Daimler Trucks North America.
“The need to catch up in both the European and [North American] markets is the main reason for the strong revival of demand compared with last year,” Daimler said in a statement.
Orders received for 107,200 units in the third quarter remained at a high level, and the order backlog is significantly larger than a year ago.
The truck unit anticipates unit sales in the fourth quarter at a higher level than in the prior-year period, the company said.
Germany-based Daimler — which also makes Mercedes-Benz automobiles — said its third-quarter earnings before interest and taxes fell 19% to 1.97 billion euros (about $2.8 billion), but the company said fourth-quarter EBIT are likely to “significantly exceed” the previous year’s figure of 2.02 billion euros ($2.9 billion).
