Daimler’s 4Q Truck Sales Fall; Full-Year Sales Improve
Daimler AG said Thursday its truck unit’s earnings and revenue fell in the fourth quarter, but sales rose 9% last year, boosted by growth in North America and Asia.
Daimler Trucks’ fourth-quarter earnings before interest and taxes fell 29% to about $406 million.
Revenue slipped 6% to $10.5 billion. Stuttgart, Germany-based Daimler reports its earnings in euros.
The truck unit’s full-year EBIT fell 9% to $2.3 billion from a year earlier, while revenue rose 9% to $42.5 billion.
Daimler Trucks — which makes Freightliner and Western Star brands in North America — sold 462,000 vehicles last year, up 9% from 2011.
“In a difficult market environment, Daimler Trucks was able to further increase its unit sales and revenue, with particularly strong growth in the [North America] region and Asia,” the company said in a statement.
Daimler said that “worldwide demand for medium and heavy trucks can be expected to increase perceptibly in 2013,” driven by growth in China.
It forecast a decline of 5% to 10% In North America “as a result of uncertainty about the country’s fiscal problems.” The company said last week it
The company also said it expects the European truck market to fall by up to 5% “due to the ongoing weak economic environment.”
