Daimler Says U.S. Truck Sales May Take Several Years to Rebound

Daimler AG said the U.S. market for heavy-duty vehicles may not rebound to the peak sales levels of 2006 for five to eight years, Bloomberg reported Wednesday.

The U.S. market has declined about 60% since its peak two years ago before 2007 environmental regulations took effect and will likely be virtually unchanged from 2008 levels next year, said Andreas Renschler, head of Daimler’s trucks division, Bloomberg reported.

Germany-based Daimler is closing two North American truck factories, closing its Sterling brand next year and cutting 3,500 jobs to adjust to the weaker market —measures aimed at trimming costs by $900 million annually by 2011, Bloomberg said.

Daimler is the parent company of U.S.-based Freightliner Trucks.