The truck builder Daimler trucks is sticking to its growth targets for the current year despite growing concerns about the economy. The sales of the world market leader for heavy trucks should increase by more than ten percent to up to 520,000 vehicles, the Dax group confirmed at its first general meeting as an independent company on Wednesday. In terms of sales, the Swabians are still aiming for an increase of up to a quarter to 48 to 50 billion euros. The adjusted return on sales should increase by at least one percentage point to seven to nine percent. “So we’re going into the rest of the year with optimism and confidence,” said CEO Martin Daum (62), according to the text of the speech at the virtual shareholder meeting.
The economic risks have increased in recent weeks, so that many fear a further downturn in the global economy, Daum explained. “And such a downturn, the concern is, would directly affect us as a cyclical industry.” But at Daimler Trucks, thanks to the corona crisis postponed investments in new commercial vehicles, an exceptional situation that could cushion a slight downturn. Many customers now urgently need to renew their fleets. “We are therefore not observing any cancellations.” In addition, the truck builder can absorb rising production costs with higher prices. The outlook takes into account the currently known effects of the Ukrainewar and the gradually easing shortage of semiconductors.
In June, both the Organization for Economic Cooperation and Development (OECD) and the World Bank significantly reduced their growth expectations for the global economy. The OECD lowered its forecast for global economic growth in 2022 from 4.5 percent to three percent, the World Bank from 4.1 to 2.9 percent.
lost more than 3 percent on Wednesday morning in the Dax, in which the Stuttgart-based group has been listed since March, and was last listed at 26.20 euros. Daimler Truck is since December after the spin-off from the larger passenger car sister Mercedes Benz independent. The anchor shareholder is the Mercedes-Benz Group with almost 35 percent, followed by the Chinese car manufacturers and Daimler partners BAIC and Geely via its owner Li Shufu (58) with a good six percent each.