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TRUCKMAKERS' NEWS * WORLDWIDE
* Germany - Daimler puts Chrysler holding value at zero
Stuttgart,Germany -The Detroit News (USA) -24 Oct 2008: -- Daimler AG has marked down the value of its 19.9 percent holding in Chrysler Holding LLC to zero, a stark sign of the U.S. automaker's deteriorating fortunes... Daimler had previously written down the value of its Chrysler stake to 171 million euros, or $219 million at current exchange rates, at the end of the second quarter, down from 916 million euros, or $1.17 billion, at the end of 2007... Daimler executives declined to elaborate on the reasons for the drop in the value. The German company also booked a $450 million loss for its Chrysler stake in its third-quarter results...* USA - Kenworth, Peterbilt, Navistar roll out hybrids
USA - Land Line Magazine -October 22, 2008: -- In diesel hybrid news, Kenworth officials announced they are supplying a new T370 diesel-electric hybrid truck for the Quebec Winter Olympic Games next year. The Class 7 truck will be used to shuttle equipment and supplies to athletic venues in the three host cities... Meanwhile, Peterbilt officials have said that – beginning next year – the company will offer three more models with liquefied natural gas configurations, including on its Class 8 387. Pete has already developed a model 386 LNG demonstration truck for Wal-Mart... And Navistar has a new Class 7 diesel-electric hybrid out called the DuraStar. Company officials said it produces fuel savings on the order of 20 percent to 25 percent in typical delivery use in town...
* Sweden - Boom is over for European truckmakers
Stockholm,Sweden -The Financial Times, by Robert Anderson -October 24 2008: -- Two of Europe’s largest truckmakers on Friday warned that the market was facing its worst downturn as customers delayed or cancelled orders because of the global financial crisis... Orders at Volvo, the world’s second-largest truckmaker, crashed 55 per cent in the third quarter year-on-year, and in Europe it had almost as many cancellations as new orders. Volvo received just 115 net order bookings for new trucks in Europe, down from 41,970 a year earlier... Volvo’s shares plunged 14.25 per cent to SKr37.30 on the news, while Scania, which is majority-owned by Volkswagen, closed down 8.88 per cent at SKr54.00... European truckmakers had until last year enjoyed a long boom, driven by demand from construction and hauliers in western Europe and fast-growing eastern European markets led by Russia... Labels: truckmakers' news worldwide
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