Financial reports for the second quarter of 2020 (April-June) recently released by four major OEMs — Daimler, Navistar, PACCAR and Volvo — reflect the continuing impact of the COVID-19 pandemic on commercial-vehicle sales.
Daimler, a German manufacturer of passenger vehicles, buses, and light-, medium- and heavy-duty trucks, reported in a July 23 statement that the group’s total unit sales for all categories saw a 34% drop compared to the second quarter of 2019.
In addition to the Freightliner and Western Star commercial trucks that are commonly used in North America, Daimler produces Mercedes-Benz, FUSO and BharatBenz trucks; Mercedes-Benz and Smart passenger cars; Mercedes-Benz vans; and Daimler and Thomas Built buses.
“Due to the unprecedented COVID-19 pandemic, we had to endure a challenging quarter,” said Ola Källenius, chairman of the board of management of Daimler AG and Mercedes-Benz AG. “But our net industrial liquidity is a testament to effective cost control and cash management, which we must continue to enforce. We are now seeing the first signs of a sales recovery.”
From April 1 to June 30, 2020, Daimler’s truck division saw sales of 57,945 units compared to 126,474 during the same time frame last year, a drop of 38%. Revenue for combined truck and bus sales fell 31% with a tally of $7,287 million USD (€6,200 million). The truck and bus division ended the quarter in the red, with an EBIT (earnings before interest and taxes) of -$888 million USD (-€756 million). The second quarter of 2019, the division showed an EBIT of $980 million USD (€834 million).
To view the entire report, click here.
Best known in the trucking industry as the producer of International tractors, Illinois-based Navistar reported a 36% drop in revenue for the year’s second quarter compared to the second quarter of 2019. Navistar also manufactures military defense