Future Landscape UAE 2017
 
Friday, September 30, 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

Plans to develop 12 new solar farms in Lebanon
businessnews.com.lb, 29 September 2016

The Lebanese Center for Energy Conservation (LCEC), part of the Ministry of Energy and Water (MoEW), has invited companies to submit proposals to develop solar ...

Read full story
Plans to develop 12 new solar farms in Lebanon
Qatar’s banking sector shows resilience
OBG, 29 September 2016

While the banking and financial services sector in Qatar continues to be a significant source of growth in the country, recently released figures for the first ...

Read full story
Qatar’s banking sector shows resilience
Back to Home Page 2604 --- 385 <><><> 979.....exvideo=0....eximage=0
P 0
BR 20

LIGHTINGTECH QATAR 2017

 

 
Future Accessibility & Assistive Technology Dubai
10 - October 2016
Smart Parking KSA
17 - October 2016
Solar O&M and Asset Management MENA
17 - October 2016
3rd Annual Future Landscape & Public Realm Qatar
24 - October 2016
RetrofitTech KSA
24 - October 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%
 

Future Landscape UAE 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Erbil International Fair - 10 October - 13 October 2016  
  Iraq Agro-Food - Erbil - 10 October - 13 October 2016  
  Future Accessibility & Assistive Technology - 10 October - 11 October 2016  
  Project Iraq - Erbil - 10 October - 13 October 2016  
  Energy Iraq - Erbil - 10 October - 13 October 2016  
  Smart Parking KSA - 17 October - 18 October 2016  
  Solar O&M and Asset Management MENA - 17 October - 18 October 2016  
  Hospitality Qatar - 18 October - 20 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 Landscape & Public Realm Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar StoneTech
Iraq
Energy Iraq - Erbil
Erbil International Fair
Iraq Agro-Food - Erbil
Medicare Iraq - Baghdad
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