* Germany - MAN Truck Unit profit drops as ‘No Sign’ of Brazil recovery
-- MAN SE, Europe’s third-largest truck manufacturer, said first-quarter earnings fell 50 percent as the market in Brazil continues to decline... Operating profit fell to 34 million euros ($37 million), from 68 million euros a year earlier, the Munich-based unit of Volkswagen AG said Tuesday in a statement. Sales fell 2 percent to 3.09 billion euros... MAN is working to offset the recession in Brazil, which has cut the company’s South American orders for trucks and buses nearly in half, as well as an Eastern European market weakened amid conflict in Ukraine. Volkswagen, meanwhile, hopes to transform MAN and Scania, another truck unit, into a global business to become the world’s most profitable truckmaker ahead of Daimler AG... Scania’s truck orders dropped 4 percent to 18,311 units in the first quarter because of economic downturns in South America and Russia...
(Photographer: Krisztian Bocsi/Bloomberg - A row of completed MAN TGS and TGX trucks are seen parked outside after leaving the production line at the MAN SE factory in Munich) -- Munich, Germany - Bloomberg, by Elisabeth Behrmann - April 28, 2015 Labels: truckmakers news Germany
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