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TRUCKMAKERS' NEWS * WORLDWIDE
* Germany - World's Largest Truck Maker Loses $716 Million - Sales slump 56 percent for Freightliner parent Daimler Trucks
Stuttgart,Germany -The Journal of Commerce, by Bruce Barnard -July 29, 2009: -- Daimler's truck business, the world's largest, swung to a second quarter loss of $716 million from an $857 million year-earlier profit on plunging global sales and restructuring costs in the United States and Japan... Truck sales fell 56 percent to 54,134 units in the three months to June 30 from 122,809 units in the 2008 period, but Daimler said it boosted market share in nearly all its major sales regions... Revenue from sales of Mercedes Benz, Freightliner, Western Star and Mitsubishi trucks shrunk 43 percent to just under $6 billion from $10.4 billion in the second quarter of 2008... Stuttgart-based Daimler said restructuring of Mitsubishi Fuso Truck in Japan and its U.S. operations reduced second quarter earnings by $288 million and $18.3 million respectively... (Photo courtesy Freightliner)* USA - Paccar Profit Dives 92 Percent. Lower margins, plant shutdowns, reduced build rates slash earnings
Bellevue,WA,USA -The Journal of Commerce, by Thomas L. Gallagher -Jul 28, 2009: -- Truck manufacturer Paccar earned $26.5 million in the second quarter compared to $313.5 million earned in the comparable period a year ago. The 92 percent dive was the result of lower gross margins, temporary plant shutdowns and reduced build rates, the company said. Second quarter net sales and financial services revenue added up to $1.85 billion compared to $4.11 billion in 2008... Without a one-time pretax gain of $47.7 million, which offset an operating loss from the truck segment of $36.5 million, Paccar would have been in the red... (Photo from wikipedia: "Seattle Car and Foundry Renton Works 1916")
Labels: truckmakers' news USA
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