Daimler Trucks expects Brazil crisis to get worse before revival

Nicholas Brautlecht – Bloomberg Business, 9/11/2015

Daimler AG said it expects demand for trucks and buses in Brazil to plunge as much as 50 percent this year as the crisis in South America’s largest economy gets worse.

The market in Brazil, struggling to overcome a crippling recession, will need one to three years to return to growth, Wolfgang Bernhard, head of Daimler’s commercial-vehicle unit, said at the Hamburg club of business journalists late Thursday.

“We expect to continue hibernating,” Bernhard said. Industrywide truck sales plunged 44 percent in the first half of the year, the Stuttgart, Germany-based company said in August. Brazil is one of several markets in which “there’s a strong, very cold headwind,” he said.

Read more… 


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s