The DAX Daimler Truck group sold fewer vehicles in the first quarter of the year than in the same period last year. In the first three months, the commercial vehicle manufacturer sold 108,911 trucks and buses, which corresponds to a decrease of 13 percent, as the company from Leinfelden-Echterdingen near Stuttgart announced on Tuesday.

Sharp decline in trucks in Asian markets

The loss was mainly due to a sharp decline in trucks in Asian markets. The bus division, however, increased its sales by one percent.

The sales figures reflect the expected normalization of global truck markets and a weak environment in important markets in Asia, Daimler Truck boss Martin Daum said, according to the statement.

Daimler Truck Holding shares temporarily fell by 3.45 percent via XETRA.

The company expects sales of between 490,000 and 510,000 units this year, as Daimler Truck announced in March at the annual results conference. In 2023, Daimler Truck sold 526,053 vehicles. The company justified the expected decline with difficult economic conditions and the lack of recovery effects.

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