* Germany - Daimler Posts 3Q Profit; Truck Sales Jump 44%
Stuttgart,Germany -Transport Topics -28 Oct 2010: -- Daimler AG said its third-quarter worldwide truck sales jumped 44% from a year ago and that its truck unit would post a profit before interest and taxes of more than $1.5 billion for the full year... It sold 94,813 trucks in the quarter, up from 66,071 a year ago, the company said Thursday. Truck revenue rose 47% to $8.9 billion... Earnings before interested and taxes at the truck unit were about $700 million, compared with a loss of $175 million a year ago... Daimler AG’s overall net profit for the quarter was $2.2 billion, compared with $78 million a year ago... Overall revenue jumped to $34.8 billion, from about $26.8 billion a year ago. Germany-based Daimler reports its earnings in euros...
* Sweden - Truck maker Volvo returns to profit in Q3
Stockholm,Sweden -Associated Press/The Detroit News, by Louise Nordstrom -October 22. 2010: -- Swedish truck maker AB Volvo said Friday it returned to a profit in the third quarter, helped by strong demand in Brazil, India, China and Russia as well as a rebound in its mature markets... The Goteborg-headquartered group reported a net profit of 2.8 billion kronor ($421 million) in the quarter, in contrast with last year's loss of 2.9 billion kronor. Revenues soared 32 percent to 64 billion kronor from 48.5 billion kronor... Still, the share fell 0.7 percent to 95.10 kronor ($14.31) in midday trading on the Stockholm stock exchange. Some market watchers blamed the fact that some of the profits were not related to the group's core business, but rather to other operating income such as trading gains... Volvo said almost half of its total sales came from outside its traditional markets, including Brazil, India, China and Russia, but that both North America and the European truck market were performing well, too...
* Germany - MAN raises outlook on global truck trade
Frankfurt,Germany -The Financial Times (UK), by Daniel Schäfer-Oct 29 2010: -- MAN has raised its full-year outlook for profits and sales after the German truck and diesel engine-maker beat analysts’ estimates in the third quarter... The group’s operating profit more than doubled to €324m year on year from July to September, as a sharp rebound in the truck business mixed with a small profit drop in the group’s diesel and turbo engine division...
* India - Ashok Leyland expects sales leap
Mumbai,India -The Financial Times (UK), by Joe Leahy -October 27 2010: -- Ashok Leyland, India’s second-largest truckmaker, is expecting a 50 per cent increase in sales this financial year as buoyant economic growth drives the country’s construction and transportation industries... Dheeraj Hinduja, the new chairman of Ashok Leyland, said the expected surge in sales from 63,000 in the 12 months ending March 31 this year to 90,000 to 95,000 by the end of next financial year, comes as the company is also looking to expand into Europe and eventually Latin America...
* India - 'M & M / Navistar JV is a potent combination'
Mumbai,India -The Economic India Times, by Lijee Philip -28 Oct, 2010: -- After initial hiccups, the Mahindra- Navistar joint venture is getting its act together by stepping up investments in innovation, product launches and services. Rakesh Kalra, managing director of the JV, in an exclusive interview with ET talks, about how the company is betting on 25 and 31-tonne trucks to be launched in the country this festive season to take on competition in the high-end commercial vehicle market... Competition in India’s high-end commercial vehicle market is getting more fierce. How will your products differentiate in an expanding market? ... We had some hiccups since the tie-up in 2005 — in terms of finding a suitable product for the domestic and the international market, understanding the customer needs, location of the project and short-listing dealerships — which did impact our launch plans. Now, we are ready with 25 and 31 tonne trucks. We have also managed to set up 60-odd dealerships for the trucks, supported by 30 of the existing M & M network. The products will use the best of technology, but are designed for the Indian market... (Photo from motoroids: Mahindra & Mahindra's Xylo pick-up, new Scorpio SUV concept and Navistar engine based Maxximo truck)
* USA - Caterpillar-Navistar -NC2- venture starts up in Brazil and South Africa
Warrensville,ILL,USA -Fleet Owner -Oct 29, 2010: -- NC2 Global, the joint truck venture between Caterpillar and Navistar, has started operations in both Brazil and South Africa. The venture was set up last September to produce trucks for global markets under the Cat and International nameplates... The company will be investing nearly $200 million in Brazil to purchase equipment and set up research and development in addition to hiring and training employees... Production will take place in Navistar’s Caxias do Sul (RS) facility in the short term, but the company said plans call for the construction of a new assembly plant in the future... RS has an agreement in place to develop and produce trucks with NC2 technology in one of the industrial units of Agrale, a Brazilian truck and tractor maker. A $10-million investment in the plant will create 150 jobs next year, the company noted... The 2012 launch of the new COE trucks will include 15 models, ranging from 10 tons to 74 tons GCW with engines ranging from 180 to over 500 hp... In South Africa, the company will do business as NC2 Trucks Southern Africa, replacing Navistar International Trucks Southern Africa. NC2 has acquired all the assets of that company... (Photo from roadtransport/big-lorry-blog (UK): NAV/CAT's NC2 model truck)Labels: truckmakers news worldwide
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