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TRUCKMAKERS' NEWS WORLDWIDE
* USA - Truck Maker Paccar Profit Falls 91 Percent
Bellevue,WA,USA -The Journal of Commerce, by Thomas L. Gallagher -Apr 28, 2009: -- Lower build rates, temporary plant shutdowns and reduced gross margins cut profit for truck maker Paccar 91 percent in the first quarter to $26.3 million, the company said... Revenue fell 52 percent to $1.7 billion in the quarter along with declining sales of Peterbilt and Kenworth trucks in the United States and Canada and DAF trucks in Europe... Paccar rigorously reduced operating expenses and capital expenditures to align its business with the current market... Seeing the “first green shoots” of an economic recovery, Paccar Inc. CEO and Chairman, Mark Pigott, predicts the next few years will be the Bellevue truck builder’s best ever... Pigott was positive during the company’s annual meeting on Tuesday, despite first-quarter earnings that plunged to just $26 million, a tenth of last year’s... (Photo courtesy Peterbilt)* Sweden - Scania Hits The Breaks
Stockholm,Sweden -Forbes (NY,USA), by Javier Espinoza -27 April 2009: -- The truck maker's profit falls, but it's in better shape than Volvo... “The transport-equipment industry is characterized by highly cyclical demand over a 10-year period, and we are now in the downturn phase," Scania said. "At present, Scania foresees no change in the demand for vehicles in the coming quarters.”... Swedish truck maker Scania was struggling with some problems of its own. The company posted a 95% drop in first-quarter net profit and said it expected demand to remain weak in the near future... (Picture courtesy Scania)
* Germany - Daimler Posts 1Q Loss As Mkt Downturn Bites
Frankfurt,Germany -Dow Jones/The Wall Street Journal (USA) -28 April 2009: -- Daimler AG (DAI) Tuesday posted a worse-than-expected net loss in the first quarter as global demand for trucks and luxury cars collapsed, confirming that full-year revenue and vehicle sales will come in significantly lower than in 2008... "Daimler anticipates a gradual improvement in operating profitability as the year progresses. Earnings in the second quarter are expected to be significantly negative once again, however," the German automaker said in a statement, adding that it targets EUR4 billion in cost savings this year... (Photo courtesy Daimler Trucks)* Germany - Truck maker MAN's 1Q profit down sharply
Frankfurt,Germany -Business Week (USA), by GEORGE FREY -30 April 2009: -- German truck maker MAN AG's first-quarter earnings fell 44 percent as the global economic crisis hurt the truck market and demand for marine engines, the company said Thursday... The Munich-based company said net profit for the January-March period declined to euro181 million ($241 million) from euro322 million a year earlier... Sales were down 27 percent to euro2.6 billion from euro3.5 billion... (Photo courtesy MAN: the TGA 28.350 rechts)* USA - Cummins Profit Tumbles
Columbus,IN,USA -The Journal of Commerce Online, by John Gallagher -Apr 30, 2009: -- Profit at heavy-duty truck engine maker Cummins fell 96 percent to $7 million in the first quarter on sales of $2.4 billion, down 30 percent from the same period in 2008, as lower demand for equipment reflected falling demand for freight hauling capacity in the trucking industry... Sales at all of Cummins’ business segments – engines, power generation, components and distribution – were down year-over-year in the quarter, with the largest declines coming from the engine and components segments... Heavy-duty truck engine sales were down 26.5 percent to $394 million compared with first quarter 2008, with actual units shipped down 32.8 percent to 16,600... (Photo courtesy Cummins: The EPA 2010 ISX15)Labels: truckmakers news worldwide
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