According to Daimler Trucks, the world’s largest maker of heavy-duty trucks, indications are good that the global truck sector will continue to grow in the future.
Production at Daimler Trucks plants around the world will remain at full capacity into the first quarter of 2012.
“We don’t see any reason for panic,” Andreas Renschler, the head of Daimler’s truck division, said at the sidelines of an auto fair in Tokyo.
“In spite of any short-term fluctuations, in the medium- and long-term, our business remains a growth business,” he said.
“However, We’re keeping a close eye on the overall economic situation”
The truckmaker said it expects the truck market to expand by roughly 10 percent in Brazil, and Mercedes-Benz do Brasil is currently headed toward a new production record.
The company said the orders for 420,000 units that Daimler Trucks received between January and November 2011 represent a 26 percent increase from the prior year (334,200 units), as well as the best new order figure since 2007.
Sales at Daimler Trucks were also up 15 percent to 371,400 units during the same period. This result is mainly due to positive developments in the NAFTA region, where Daimler Trucks received orders for 124,400 units between January and November 2011.
Daimler Trucks posted a third quarter operating profit of 1.45 billion euros and a margin of 7.1 percent in the first nine months of this year.
However, most of the truck-makers are bracing for softer demand in Europe because of the debt crisis.
Volvo AB, which makes Mack trucks in the U.S. and ranks second behind Daimler globally, won’t extend temporary contracts in 2012 for 400 to 450 workers as it trims European production.
Scania also said it would cut output by around 15 percent in January, at manufacturing bases in Europe and Latin America.
The company said there was uncertainty about the market in Brazil during the first half of 2012 due to the transition to new Euro 5 emission legislation, and because of falling global demand for agricultural products and other commodities.