Future Interiors Qatar 2016
 
Saturday, June 25, 2016
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

Qatar uses 3D printers to make World Cup stadiums ‘desert-proof’
Reuters, 24 June 2016

Scientists at Qatar University are testing 3D-printed models of football stadiums that Qatar is building for the 2022 World Cup to see if they can endure the ...

Read full story
Qatar uses 3D printers to make World Cup stadiums ‘desert-proof’
GCC fuels $100 billion in airport construction projects
Khaleej Times, 24 June 2016

The GCC is fueling $100 billion in airport expansion and construction projects on the back of a projected around five per cent annual surge in passenger numbers ...

Read full story
GCC fuels $100 billion in airport construction projects
Back to Home Page 2604 --- 385 <><><> 979.....exvideo=0....eximage=0
P 0
BR 20

Future Interiors Qatar 2016

 

 
3rd Annual Future Interiors Qatar
5 - September 2016
TPLA Experience Tech UAE
5 - September 2016
2nd Annual Solar Projects Egypt
6 - September 2016
2nd Annual LightingTech Egypt
26 - September 2016
2nd Annual Smart Parking UAE
28 - September 2016
 
  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%
 

Solar Projects Egypt 2016

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  3rd Annual Future Interiors Qatar - 5 September - 6 September 2016  
  TPLA Experience Tech UAE - 5 September - 6 September 2016  
  2nd Annual Solar Projects Egypt - 6 September - 7 September 2016  
  Iraq Agro-Food - Baghdad 2016 - 7 September - 9 September 2016  
  Medicare Iraq Erbil - 13 September - 15 September 2016  
  2nd Annual Smart Parking UAE - 28 September - 29 September 2016  
  Erbil International Fair - 10 October - 13 October 2016  
  Future Accessibility & Assistive Technology - 10 October - 11 October 2016  
IFP Group Events Calendar

 


Notice: Undefined variable: left3 in C:\inetpub\wwwroot\rec2008\ifpinfo\ifpinfo-news.php on line 1545

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
3rd Annual Future Drainage & Stormwater Networks Qatar
3rd Annual Future Interiors Qatar
3rd Annual Future Landscape & Public Realm Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar StoneTech
Iraq
Energy Iraq - Erbil
Erbil International Fair
Iraq Agro-Food - Baghdad 2016
Iraq Agro-Food - Erbil
Medicare Iraq Erbil
Project Iraq - Erbil
Saudi Arabia
PMV Series at Saudi Build
Saudi Agriculture
Saudi Agrofood
Saudi Build
Saudi Power Sports
Saudi Stone-Tech
Saudi Transport
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved