By Amir Orusov<\/p>\n
May 6 (Reuters) – Daimler Truck’s first-quarter operating profit more than halved, hit by historically weak \u200cdemand and import tariffs in its North American \u200cmarket, the German company said on Wednesday.<\/p>\n
The performance reflected a sharp \u200bslowdown in North America, where sales fell by a quarter to 29,432 vehicles in an autos sector dealt a hefty blow by import tariffs imposed by U.S. President Donald \u200cTrump’s administration.<\/p>\n
The Trucks \u2060North America division continues to face “tariff headwinds, with full tariff effects” reflected in the first \u2060quarter for the first time, group finance chief Eva Scherer said in a statement.<\/p>\n
On a group level, adjusted operating \u200bprofit \u200bwas 498 million euros ($583.56 million), \u200bdown from 1.08 billion \u200ceuros a year earlier.<\/p>\n
The sales decline, import tariffs and adverse currency effects cost the North American arm 624 million euros in the quarter, the group said in presentation slides.<\/p>\n
Adjusted return on sales in North America fell to \u200c5.4% from 14.4% in the \u200bsame period last year.<\/p>\n
However, Daimler Truck \u200bconfirmed its full-year \u200boutlook, saying it saw early signs of \u200cpotential demand recovery in the \u200bU.S. truck market \u200bwith an 86% increase in North American orders.<\/p>\n
The upturn in orders was “far better than hoped”, a \u200bFrankfurt-based equities trader \u200csaid, and chimed with reports from rivals Traton \u200band Volvo.<\/p>\n
($1 = 0.8534 euros)<\/p>\n
(Reporting by Amir OrusovEditing by \u200bChristoph Steitz and David Goodman)<\/p>\n","protected":false},"excerpt":{"rendered":"By Amir Orusov May 6 (Reuters) – Daimler Truck’s first-quarter operating profit more than halved, hit by historically…\n","protected":false},"author":2,"featured_media":21343,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[21157],"tags":[3427,23893,21491],"class_list":["post-21342","post","type-post","status-publish","format-standard","has-post-thumbnail","category-daimler-truck","tag-daimler-truck","tag-import-tariffs","tag-north-american"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/21342","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/comments?post=21342"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/posts\/21342\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media\/21343"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/media?parent=21342"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/categories?post=21342"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/germany\/wp-json\/wp\/v2\/tags?post=21342"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}