Mexican Media Brands
Daimler Trucks Seeks to Close Profit Gap with Rivals
Daimler AG's truck and bus unit aims to surpass the operating profit margins of rivals Scania AB and Volvo AB, according to Bloomberg News.
#economics
Share
Daimler AG's truck and bus unit aims to surpass the operating profit margins of rivals Scania AB and Volvo AB, according to Bloomberg News.
The news service cites an e-mail from new trucks chief Wolfgang Bernhard to company employees. Bernhard headed manufacturing and purchasing for Mercedes-Benz Cars until April 1, when he switched jobs with truck boss Andreas Renschler.
Daimler is the world's largest truckmaker by revenue. But the unit's earnings before interest and taxes shrank to 5.5% of revenue last year from 6.5% in 2011.
In 2012 Scania and Volvo truck generated operating returns on revenue of 14% and 5.8%, respectively.
Bloomberg notes that boosting the truck unit's profit margins would advance Bernhard's chance of succeeding CEO Dieter Zetsche, who turns 60 next month.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.