Daimler and Volvo Report Fourth Quarter Earnings
The parent to Freightliner, Western Star and Detroit Diesel saw a big jump in its fourth quarter earnings while profit fell.
The parent to Freightliner, Western Star and Detroit Diesel saw a big jump in its fourth quarter earnings while profit fell.
Daimler AG reports its net profit decreased 36% from a year ago while revenue increased 8%. Sales in its Daimler Trucks division increased 19% during the same time.
It expects increased growth for the coming year, including above average activity in North American and in emerging markets.
Read more about it from RTT.
Meantime, competitor Volvo Group said it plans to increase the number of planned jobs cuts while it reported a drop in fourth quarter earnings of 17% from a year ago with revenue increasing 8.2%.
Truck deliveries for the parent of Volvo and Mack truck during the period were up 15% while orders increased 12%.
Read more about it from Bloomberg.
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