Saturday, May 26, 2018
Directory Directory Subscribe
Login
 

Daimler Trucks face Chinese competition in Iran after Africa

 
 

Please, enter data

Please, enter data

Bloomberg, 23 February 2016

Germany’s Daimler AG, seeking to retake its position as one of the leading truck-makers in Iran, is bracing for competition from Chinese rivals as sanctions on the market are lifted, it was reported.

“The chairs we used to sit on in Iran weren’t left empty when we were gone. Chinese competitors now sit in these chairs,” said Wolfgang Bernhard, head of Daimler Trucks, quoted by Bloomberg.

The German automaker has acted fast to re-establish its presence in Iran, and last month signed an initial agreement with the state-owned Iran Khodro Co., the country’s biggest auto producer.

Daimler now sees demand in Iran eventually on par with Turkey at about 40,000 trucks a year. Prior to stopping business in Iran in 2010 amid international sanctions, Daimler sold as many as 10,000 vehicles there annually.

The manufacturer now has its sights set on countries like Iran to offset weak sales in more established markets, like North and South America. Truck demand in North America is weakening amid a manufacturing slowdown, while the recession in Brazil has dealt a severe blow to sales of heavy vehicles – a factor that Bernhard says might force Daimler into layoffs.

In a statement on its website, Daimler noted that sales in Brazil plunged by nearly half - 49% - last year. Other key markets like Indonesia also fared far worse than expected in 2015, with demand plummeting by 32% compared to the previous year.

Meanwhile, the once-booming market in China has also slowed down, forcing Chinese companies like Dongfeng Motor Group Co. to expand overseas.

“The difficult market conditions we’ve seen last year have become more difficult,” said Bernhard. The Daimler executive also sees Chinese manufacturers making inroads in Africa, where the company is looking to step up sales.

Despite challenging global market conditions last year, Daimler Trucks reported a 32% growth in sales and operating profit for 2015. For 2016, the manufacturer expects demand for medium and heavy-duty trucks overall to decline slightly, anticipating a slight increase only in Europe.

In North America, the medium and heavy-duty truck segment is forecast to contract by about 10% in 2016, Daimler Trucks said. The outlook for Indonesia and Brazil is also gloomy, with the latter’s market for trucks predicted to shrink even further – probably by about 10%.
Bloomberg
23 February

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

UAE 7th Most Competitive Economy in the World
Al Bawaba, 24 May 2018

The UAE has jumped three places to become the seventh most competitive economy in the world in 2018, its best ranking ever, reveals a global study released on ...

Read full story
UAE 7th Most Competitive Economy in the World
Bahrain invites bids for 682-unit housing project
TradeArabia News Service, 24 May 2018

 Bahrain's government has invited bids from qualified consultants and contractors for providing contract management and site supervision consultancy ...

Read full story
Bahrain invites bids for 682-unit housing project
Sweden intends to double trade with Egypt in five years: ambassador
Daily News Egypt, 23 May 2018

Swedish Ambassador to Egypt Jan Thesleff told Daily News Egypt that his intention and hope is to double Swedish trade with Egypt in the next five years.
...

Read full story
Sweden intends to double trade with Egypt in five years: ambassador
Material used at Al Bayt Stadium named after 2022 FIFA World Cup Qatar
The Peninsula, 23 May 2018

The unique construction fabric used in Al Bayt Stadium in Al Khor City to resemble the inside of a traditional Bedouin tent will be named after the iconic 2022 ...

Read full story
Material used at Al Bayt Stadium named after 2022 FIFA World Cup Qatar
Back to Home Page 2604 --- 0 <><><> 594.....exvideo=0....eximage=0
P 0
BR 20

 
Entertainment KSA
3 - September 2018
2nd Annual Digital Forensics and Analysis Summit
10 - September 2018
The 2nd Annual Digital Transformation Summit
17 - September 2018
Future Traffic Security
24 - September 2018
Future Civil Defense
24 - September 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Project Lebanon - 26 June - 29 June 2018  
  Energy Lebanon - 26 June - 29 June 2018  
  Iraq Agrofood Baghdad - 8 October - 11 October 2018  
  Project Iraq Baghdad - 8 October - 11 October 2018  
  Hospitality Qatar - 6 November - 8 November 2018  
  HQ - Food Qatar - 6 November - 8 November 2018  
  Food Africa Cairo - 8 December - 10 December 2018  
  Mac Fruit Attraction - 8 December - 10 December 2018  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
Hospitality Qatar
HQ - Food Qatar
Iraq
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2018 - © All rights reserved