Volkswagen subsidiary Traton is preparing for difficult market conditions. The truck division recently brought to the market expects to meet its financial targets for this year. But the prospects for next year are less bright, warns CEO Andreas Renschler.
Traton, with brands such as MAN and Scania, sold 179,100 vehicles in the first nine months of this year. This makes sales 8 percent ahead of last year. Deliveries in Brazil, among others, were on the rise. However, the picture in Europe is deteriorating, says Traton that the number of new orders overall fell by 6 percent.
The company is not the first truck maker to foresee difficult times as economic growth is slowing down. Last month, rival Daimler lowered certain expectations slightly. Volvo Group was also pessimistic in a preview.
Traton nevertheless maintains its expectations for 2019. Turnover rose by 6 percent in the first three quarters to 19.8 billion euros. The operating profit increased by more than a third to 1.5 billion euros.
Peretz M. is an accomplished economist and financial journalist with a deep understanding of the global economy and financial markets. He is a regular contributor to EconomicInform, where he provides expert analysis and commentary on current economic trends and events. With a strong educational background in economics, Peretz has a talent for breaking down complex economic concepts for a general audience and is able to provide insightful perspectives on a wide range of economic issues.
