Germany’s MAN Braces for Tougher Year Ahead

Munich-based truckmaker MAN SE expects the commercial truck market to be even more difficult in 2013 than this year.

MAN tells an analyst conference in Nuremberg that orders, which were weak in the April-June period, slowed further in the third quarter of this year. The company blames weak demand in Brazil that is exacerbating declines in the slumping European truck market.

MAN stands by the downwardly revised 2012 forecast it issued in July, which predicts operating margin will drop to about 6% of revenue from 8.5% last year. The company, which froze hiring this summer, said in August that it also might shed temporary employees and reduce output this year.

MAN is currently integrating its truck operations with those of Sweden's Scania AB and Volkswagen AG, which controls the other two companies.