2023-08-09 12:14:14
eActros from Daimler Trucks
The truck manufacturers cannot keep up with their production.
(Photo: Daimler)
Cologne The truck industry is heading for an extremely profitable year as a whole. The order books are bulging, demand is high despite inflation-driven price increases. Profits are only held back by capacity: the truck manufacturers cannot keep up with their production.
Moritz Kronenberger, portfolio manager at Union Investment, explains: “Manufacturers are currently still benefiting from the strong order book that has built up over the past year due to material shortages and fears of a recession.” The backlog of orders was so large that manufacturers were forced to temporarily close their order books for 2024.
Behind the good order situation there is also a catch-up effect of the Covid 19 pandemic: the fleet age has increased as a result of the lack of orders. The economic recovery that followed quickly led to new orders from many sectors.
“Thus, the situation for truck manufacturers is extremely positive due to the currently still high demand, the high age of the fleet and the strong backlog of orders from last year,” summarizes Kronenberger.
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