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COMMENTS * UK - Truckmakers circle the wagons
In a market with fewer players and a more predictable customer base than for cars, truck sales on the continent have been ticking over well.
London,UK -The Financial Times, by John Reed - September 11 2007: -- While carmakers worry about fickle markets and tightening regulation in Europe, most commercial vehicle producers are on a roll. Surging demand for commercial vehicles in central and eastern Europe in particular is buoying the sector... Manufacturers are investing heavily in new capacity in the east amid a boom in construction and shipping in the new EU member states and the former Soviet Union... PACCAR, the Seattle-based, New York-listed group that owns Europe’s DAF brand, is projecting record or near-record growth in demand from eastern Europe this year... Demand for new large trucks in the region is forecast to double over the next four years, according to a Standard & Poor’s report published last month. The ratings agency forecast that demand would double to 101,000 by 2010, driven by high investments in infrastructure in new EU members and trucks’ increasing use over other freight transportation... The growth in the east has coincided with a recent spike in demand for heavy trucks in the UK, France and Germany. Upgrading of emissions levels on trucks to meet Euro 4 standards led many buyers to bring forward their buying programmes... In North America, meanwhile, truck sales have been sagging, eating away some of the gains producers are making in Europe. Volvo AB’s deliveries in the US were down 60 per cent for the year to end-July... DaimlerChrysler’s truck group sold 20,300 fewer units in the second quarter than a year ago...
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