DaimlerChrysler takes dim view of 2003 truck market
Mar 24, 2003 12:00 PM, staff and wire reportsGerman truck builder DaimlerChrysler AG doesn’t foresee improvement during 2003 in the market for heavy-duty trucks or other commercial vehicles, according to Bloomberg News.
In 2002, DaimlerChrysler’s commercial vehicle sales decreased 4.5% in Western Europe, contributing to a $365-million loss during the year. The company anticipates sales will fall even further in 2003, Bloomberg reported.
A producer of trucks through its Freightliner, Mercedes-Benz, Mitsubishi, and Hyundai subsidiaries, DaimlerChrysler is examining ways to reduce costs, such as sharing parts across its brands, Bloomberg said. The manufacturer also said it still seeks a partner to assist its expansion into China’s truck market.