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TRUCKMAKERS' NEWS * WORLDWIDE
* EUROPE - Jobs Eliminated, Plants Idled
Brussels,Belgium -Bloomberg -23 Feb 2009: -- European truckmakers are eliminating thousands of jobs and idling factories as sales and orders plunge. Heavy-truck sales in Germany, Europe’s largest economy, fell 17 percent in December while new registrations of all sizes of trucks and buses in Europe tumbled 24 percent, according to the European Automobile Manufacturers Association... The association cited “the sharpest decline in demand” since 1993. Regional sales data for January will be released Feb. 25...
* Germany - MAN Gets EU2 Billion Loan to Fund Purchase of VW Unit
Munich, Germany -Bloomberg, by Andreas Cremer & Nina De Roy -Feb. 19, 2009: -- MAN AG, Europe’s third-largest truckmaker, said it obtained a 2 billion-euro ($2.6 billion) loan to finance the acquisition of Volkswagen AG’s truck and bus operations in Brazil... “We just closed a credit facility with 10 banks,” Chief Financial Officer Karlheinz Hornung said today in a interview from Munich, Germany... The truckmaker said Dec. 15 it had agreed to buy the Brazilian business from VW, its largest shareholder... Ownership of the unit was due to be transferred on Jan. 1, MAN said at the time. (Photo: Bus World Org)
* Germany - MAN sees strong earnings in diesel engines
Frankfurt,Germany -Reuters (UK) -Feb 19, 2009: -- German industrial conglomerate MAN AG expects group sales to decline in 2009 but its diesel engine business (not its flagship commercial vehicles division) to post strong earnings despite a global economic downturn, it said on Thursday... It gave the outlook after disclosing full-year 2008 operating profit rose 11 percent to 1.73 billion euros ($2.18 billion), the best in its 250-year history and in line with market expectations...
* Germany - MAN AG to Make More Cost Cuts After Profit Plunges
Munich,Germany -Bloomberg, by Andreas Cremer -Feb. 19, 2009: -- MAN AG, Europe’s third-largest truckmaker, said it will cut costs further and extend reductions in employees’ work hours after the recession and declining sales caused fourth-quarter profit to plunge by almost half... Net income declined to 177 million euros ($224.3 million) from 331 million euros a year earlier, the Munich-based company said today in a statement. MAN will trim costs in production and management by 500 million euros, Chief Executive Officer Hakan Samuelsson said at a Munich news conference, adding that first- quarter business hasn’t improved on fourth-quarter figures...
* Germany - Stocks Fall, Send DAX to New Four-Year Low
Berlin,Germany -Bloomberg, by Mike Gavin -Feb. 23, 2009: -- German stocks declined for a second straight day as a sell-off in financial companies and carmakers sent the benchmark DAX Index to a new four-year low... BMW, the world’s largest maker of luxury cars, dropped 5.4 percent to 20.15 euros. Daimler, the biggest truckmaker, slid 5.7 percent to 19.29 euros, while Volkswagen lost 3.8 percent to 216.35 euros and Porsche SE retreated 10 percent to 30.23 euros...
* Sweden - Volvo January Truck Sales Fall 51 Percent as U.S. Demand Slides
Gothenburg,Sweden -Bloomberg, by Toby Alder -Feb. 24, 2009: -- Volvo AB, the world’s second-largest maker of heavy trucks, said total unit sales fell 51 percent in January, the biggest drop in at least a year, as demand plummeted in North America and Eastern Europe... Sales of the different brands combined declined to 10,232 units from 20,856 units a year earlier, the Gothenburg, Sweden- based company said in a statement today. Sales slumped 67 percent in North America and 78 percent in Eastern Europe, Volvo said... Sales of Renault branded trucks fell 52 percent to 3,152 units, while Mack branded sales slid 55 percent to 624 units. The truckmaker said it will focus on the aftermarket business in an attempt to increase profit...
* China - Commercial vehicle output, sales continue to drop in January
Beijing,China -AsiaPulse/Trading Markets -Feb 24, 2009: -- China's commercial vehicle makers still faced a stern situation in January, with the downward turn of output and sales in the fourth quarter 2008 continuing, as the general economy remained sluggish... Commercial vehicle output totaled 132,000 units in January, down 4.41 per cent month on month and 39.1 per cent year on year. Sales reached 125,300 units in January, down 20.21 per cent month on month and 36.35 per cent year on year, according to data released by the China Association of Automobile Manufacturers...
Labels: truckmakers' news worldwide
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