LAS VEGAS — Two top Daimler Trucks executives said they expect good long-term growth in sales, both in North America and the world, but said they are not sure when the acceleration will take place from the current sluggish levels of expansion.
The manufacturer of Freightliner and Western Star trucks has cut its growth forecast for this year by 15%. The executives also expressed “cautious optimism” for growth in 2013, but conceded that demand for new trucks is “unstable,” as orders have been soft and overall economic activity is slow.
“We’re not living in paradise now, but the market looks good,” Andreas Renschler, head of Daimler AG’s global trucks division, said at a press conference Monday at American Trucking Associations’ Management Conference & Exhibition. He said North America and Asia have provided most of Daimler Trucks’ growth this year.
Martin Daum, CEO of Daimler Trucks North America, said he once thought total heavy-duty U.S. truck sales would hit 219,000 this year, but now the company’s estimate is 185,00 vehicles, or 8.2% more than 2011’s level of 171,000 units.
Globally, Daimler sold 426,000 trucks last year. Renschler said he expects to hit 700,000 units by 2020. Daum said North American fleet operators have not purchased new vehicles at replacement level since the banner year of 2006, meaning fleets will soon have to buy above replacement level, estimated at 375,000 Class 6-8 trucks in North America.
