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TRUCKMAKERS' NEWS * WORLDWIDE
* Japan - Hino, Isuzu Likely to Show ¥20 Billion Quarterly Loss
Tokyo,Japan -Nikkei/Road Transport (UK), by Oliver Dixon -July 22, 2009: -- Isuzu Motors Ltd. and Hino Motors Ltd. are believed to have each generated operating losses of around 20 billion yen (US$ 200 M aprox) on a consolidated basis for the April-June quarter as a result of anemic truck sales... While the figures would be mostly in line with their preliminary projections, they would represent the first quarterly losses for the companies since they began compiling such data... Tanking sales in their mainstay truck operations are mainly to blame for deteriorating earnings at Isuzu and Hino, whose sales are likely to have dropped 50% on the year to around 200 billion yen and roughly 160 billion yen, respectively. Domestic truck sales fell by the same pace, with Isuzu selling around 6,000 vehicles and Hino roughly 4,000 units... For the full term ending March 31, 2010, Isuzu expects an 18 billion yen group operating loss, while Hino projects a 15 billion yen operating loss...* Italy - Rumors Abound: Who Isn’t Interested in CNH and/or Iveco?
Milan,Italy -Diesel Progress On Line (USA) -July 15, 2009: ... Rumors abound in the agricultural press of a merger between CNH Global and AGCO, spawned by a Reuters report in which AGCO President Martin Richenhagen said "if we could do a major deal in North America, we would be very interested in doing something like that”... Of course, everyone is taking that to as a signal of a possible CNH and AGCO link-up... And Bloomberg.com, citing a report in the Italian newspaper Il Giornale, said Fiat may be in talks to sell its CNH construction equipment to John Deere, as well as selling Iveco to someone. None of the reports cited anything or anyone definitively, save the apparent Richenhagen comment... Sometimes where there is smoke, there’s fire. Other times, there’s just rumors. And with business like it is, the rumor mill may be the busiest part of the industry right now.. * Sweden - Scania says output to rise after Q2 profit plunges
Stockholm,Sweden -Reuters, by Niklas Pollard and Victoria Klesty -Jul 23, 2009: -- Truck maker Scania barely stayed profitable in the second quarter, hit by a worse-than-forecast plunge in sales due to the economic downturn, sending its shares down nearly 5 percent on Thursday... But inventory cuts and firmer orders meant Scania would raise its daily production rate in the third quarter, echoing its larger domestic rival Volvo which said this week it would raise output towards the year-end... Scania's operating earnings evaporated to 17 million crowns ($2.23 million) from 4.03 billion a year ago and well below the 536 million mean forecast in a Reuters poll of analysts...* Germany - Earnings Preview: Daimler Q2 results
Stuttgart,Germany -AP/FORBES, by GEORGE FREY -24 July 2009: -- German car and truck maker Daimler AG reports earnings for its second quarter on July 29... OVERVIEW: Daimler is one of the world's leading luxury carmakers with brands including Mercedes-Benz and Maybach, and is the world's largest truckmaker by sales with its Mercedes Benz, Freightliner, and Mitsubishi Fuso brands...* India - Default Indian Truck Maker Woos Divested Chrysler Dealers
USA -IndustryWeek, by Jill Jusko -16 July 2009: -- Today's online version of the Detroit Free Press is reporting that Indian truck maker Mahindra & Mahindra is planning a quick move into the U.S. market by aligning with former Chrysler dealerships... An interesting detail in the article is one that talks about how the trucks will get to the U.S. for sale. Initially they will be imported, the article says, citing a Mahindra official, but eventually "Mahindra plans to assemble them through a contract manufacturing partner in the United States by mid-2010"... (Comment Added for wesdavidson) Makers of medium and heavy vehicles are doing well in the US, however the makers of light trucks abandoned this market some time ago. Despite demolition derby advertising by some makers. Purchasers of detroit products of today reqire a fair number of modifications to new vehicles to make them usable...Labels: truckmakers' news worldwide
posted by Unknown @ 4:08 PM
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