Germany’s Daimler Truck AG posted first-quarter core revenue of 1.21 billion euros (USD 1.30 billion) on Friday, beating the consensus estimate of 1.17 billion euros in an organization ballot, pushed by a robust efficiency of its Vans North America enterprise.
First-quarter core revenue (adjusted earnings earlier than curiosity and taxes) at Daimler Truck’s North American enterprise rose 7% year-on-year within the first quarter in comparison with 4% throughout Daimler Truck as a complete.
Orders had been normalising throughout all areas after a bumper 2023, the maker of yellow Thomas Constructed faculty buses stated, however order consumption at Vans North America grew virtually 30% within the quarter on the identical time final 12 months.
Higher pricing helped the end result throughout the group, it added, compensating for decrease unit gross sales.
Truckmakers are aiming to spice up margins as demand slows following the discharge of pent-up pandemic demand final 12 months. Worth rises helped Volkswagen’s truck-making unit Traton beat expectations throughout the first quarter, with value hikes at Volvo additionally partially offsetting an virtually 20% fall so as consumption.
Core revenue at Daimler Truck’s Mercedes-Benz enterprise, which focuses on Europe, fell 4% on this time final 12 months with the determine falling 39% for the Vans Asia phase.
Daimler Truck final 12 months made virtually 45% of its gross sales in North America and a few third in Europe.
The maker of Freightliner and Western Star vehicles reiterated its steering for the 12 months.