MAN CEO says no signs of truck demand recovery image

Man SE CEO Hakan Samuelsson told the Financial Times the truck industry needs to “wait for real signs of improvement” and pre-crisis levels of demand for trucks won’t return before 2010.

“We are seeing a levelling out at a low level and its difficult to see that it will get much worse in Europe, but real signs of recovery are still to come. Europe is down maybe half or more than half [but] Brazil and China are much more positive,” Samuelsson told the paper.

To recover to pre-crisis levels of demand “we probably have to wait until 2010,” he said. To get to volumes seen in 2007 “will take a year or two more than that, and you can, of course, also question will we reach it,” he added.

Dampening expectations of a recovery to peak levels last seen in 2007, he said: “We should maybe also not be too disappointed if the next peak is maybe a bit lower.”

Source: Reuters