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Daimler, other truckmakers defy doomsayers in the vehicle market
By Zhu Huanian |
October 24, 2012, Wednesday
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Print Edition
Print Edition
AMID a deepening euro debt crisis, international truck makers remain upbeat on growth prospects, especially in emerging economies like China, according to industry executives attending the biennial IAA Commercial Vehicles show in Hanover last month.
Daimler AG, the world's largest truck maker, was among those exhibiting the latest products related to developing countries.
The company predicts global demand for medium- and heavy-duty trucks alone will increase by nearly 40 percent to almost 4 million units by 2020, with "the major part of that growth coming from the BRIC markets of Brazil, Russia, India and China," said Andreas Renschler, a board member who oversees Daimler's truck and bus businesses.
Daimler set up a joint venture in Beijing with Chinese truck maker Foton this year to produce Auman-brand vehicles, which began rolling off the assembly line in July and made their debut at the Hanover show.
Also in the spotlight were BharatBenz trucks from Daimler's India operations and Actros trucks manufactured in Brazil.
Daimler forecasts double-digit growth in its Russian sales this year.
China is the world's biggest truck market, and India is expected to overtake the United States as No. 2 in coming years.
Beyond BRIC economies, the German truck maker said reconstruction work after last year's tsunami continues to boost demand in Japan. Double-digital growth also is expected in North America, while sales in Daimler's home European market are still expanding, despite a weaker demand in southern Europe.
"It's not all sunshine, but it's far from being all rain," said Renschler. "Only profitable growth is good growth."
At the Hanover show, officials from Munich-based MAN SE said China is a cornerstone of its growth strategy. MAN operates a partnership with China's Sinotruk to develop the Sitrak truck brand.
The brand will incorporate MAN engines and target production for the export market. Still, Daimler retains a strong edge in global competition. The only close, comparable competitor with an international presence is Volvo AB.
Volvo showcased its newest FH series at the Hanover show.
"We have invested almost 1.3 billion euros (US$1.7 billion) in the new FH," said Claes Nilsson, president of Volvo Trucks.
The company highlighted its commitment to lower fuel consumption with the launch of its new Euro 6 engine.
Daimler AG, the world's largest truck maker, was among those exhibiting the latest products related to developing countries.
The company predicts global demand for medium- and heavy-duty trucks alone will increase by nearly 40 percent to almost 4 million units by 2020, with "the major part of that growth coming from the BRIC markets of Brazil, Russia, India and China," said Andreas Renschler, a board member who oversees Daimler's truck and bus businesses.
Daimler set up a joint venture in Beijing with Chinese truck maker Foton this year to produce Auman-brand vehicles, which began rolling off the assembly line in July and made their debut at the Hanover show.
Also in the spotlight were BharatBenz trucks from Daimler's India operations and Actros trucks manufactured in Brazil.
Daimler forecasts double-digit growth in its Russian sales this year.
China is the world's biggest truck market, and India is expected to overtake the United States as No. 2 in coming years.
Beyond BRIC economies, the German truck maker said reconstruction work after last year's tsunami continues to boost demand in Japan. Double-digital growth also is expected in North America, while sales in Daimler's home European market are still expanding, despite a weaker demand in southern Europe.
"It's not all sunshine, but it's far from being all rain," said Renschler. "Only profitable growth is good growth."
At the Hanover show, officials from Munich-based MAN SE said China is a cornerstone of its growth strategy. MAN operates a partnership with China's Sinotruk to develop the Sitrak truck brand.
The brand will incorporate MAN engines and target production for the export market. Still, Daimler retains a strong edge in global competition. The only close, comparable competitor with an international presence is Volvo AB.
Volvo showcased its newest FH series at the Hanover show.
"We have invested almost 1.3 billion euros (US$1.7 billion) in the new FH," said Claes Nilsson, president of Volvo Trucks.
The company highlighted its commitment to lower fuel consumption with the launch of its new Euro 6 engine.
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