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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.
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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.
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