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TRUCKMAKERS' NEWS * WORLDWIDE
* Sweden - Volvo Q1 loss worse than feared; industry data bleak
Stockholm,Sweden -Reuters, by Niklas Pollard & Victoria Klesty; and Johannes Hellstrom & Mike Nesbit -Apr 24, 2009: -- World number two truck maker Volvo posted a deeper-than-expected first-quarter operating loss on Friday and cut its market outlook, forecasting a huge contraction in demand on both sides of the Atlantic... The weakness of Volvo's European home market, which it said it saw being cut in half or worse this year, was also in evidence as industry data showed separately that new commercial vehicle registrations fell 32.9 percent in March alone... The Swedish company reported a quarterly operating loss of 4.53 billion Swedish crowns ($536 million) versus a year-ago profit of 6.49 billion and the mean forecast for a loss of 2.90 billion seen in a Reuters poll of 18 analysts... In a stunning reversal from years of robust demand, the global financial crisis and ensuing collapse in demand for heavy-duty trucks has left Volvo and its peers in the European truck industry struggling to slash capacity and costs...* USA - Analyst Predicts Iveco Sale... And so it begins - again
New York,NY,USA -Road Transport (UK) -23 April 2009: -- Sanford Bernstein analyst Max Warburton suggests today that Fiat may be forced to sell both Iveco and CNH in order to pursue its grand design - namely the proposed alliance with Chrysler... But Iveco would play a significant role within any Fiat excursion into North America, not least through the Daily range, which has to rank as a highly appropriate product for a market that has been quick to embrace european van designs... As such, losing the Daily would be a big minus in the overall equation. And, if Fiat decided to keep Iveco's LCV range, then what would it actually be selling? Not very much would have to bd the answer; a - in global terms - small heavy truck business, with an outsourced driveline and a sales network that remains very much focussed on Southern Europe... We remain cautious about Iveco's role in the truck business post Euro VI, but the scenario that Bernstein suggests - along with the pricetag - a cool $6.5 billion - seems to be rather far-fetched...
* Europe - Truck sales fall 32.9 pct in March
Paris,France -Reuters -Apr 24, 2009: -- European new commercial vehicle registrations fell 35.6 percent in the first quarter as a whole, as the economic downturn pummelled demand, industry association ACEA said on Friday. March had three more working days this year than in 2008, ACEA said, but demand for commercial vehicles, which reflects the state of the wider economy, fell 32.9 percent across Europe, including the 27 EU member states plus the European Free Trade Association countries, but not Malta and Cyprus... In Western Europe, March registrations fell 31.1 percent, while new EU member states posted a much steeper drop of 48.7 percent...
Labels: truckmakers' news worldwide
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