Daimler Predicts Higher Truck Sales in 4Q

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Daimler AG predicted a higher fourth-quarter profit on gains at its trucks and vans divisions, Bloomberg reported Thursday.

The maker of Freightliner and Western Star trucks projected “strong” growth in truck sales, Bloomberg said. Freightliner and Western Star are brands of Daimler Trucks North America.

“The need to catch up in both the European and [North American] markets is the main reason for the strong revival of demand compared with last year,” Daimler said in a statement.

Orders received for 107,200 units in the third quarter remained at a high level, and the order backlog is significantly larger than a year ago.

The truck unit anticipates unit sales in the fourth quarter at a higher level than in the prior-year period, the company said.

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Volvo's 3Q Earnings Jump; Predicts 20% Growth in North American Sales

Volvo AB’s third-quarter profit jumped 36% and the company said heavy-duty truck sales in North America will rise 20% next year, Bloomberg reported Tuesday.

Net income rose to $585 million, while sales rose 15% to $11.2 billion, Bloomberg reported. Gothenburg, Sweden-based Volvo reports its earnings in Swedish krona.

Third-quarter truck orders rose 18% as purchases in North and South America helped offset slowing demand in Europe and Asia, Bloomberg reported, citing Volvo.

CEO Olof Persson, who headed Volvo’s construction equipment unit before taking the top post last month, said Volvo is now taking orders for the beginning of next year in North America, Bloomberg reported.

Volvo, the parent company of Mack Trucks and Volvo Trucks North America, is also the parent of Renault trucks in Europe.

Earlier this month, Volvo announced a reorganization of its heavy-duty vehicle truck business to align along geographic regions rather than by brands.

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