(Reuters) – Volkswagen’s trucks arm Traton reported a 5% jump in first-quarter sales revenue on Friday, citing a favourable product and market mix and improved unit price realisation.
The German truckmaker’s sales revenue grew to 11.8 billion euros ($12.65 billion) in the January-March quarter, beating analysts’ estimate of 11.2 billion euros in a poll by Vara Research.
The Bavarian-based company’s results contrast those of peers such as Volvo and Daimler Truck, as demand returns to more normal levels in many markets following a strong 2023.
European truck makers are facing a tougher 2024 with a downturn in Europe and North America, after pent-up post-pandemic demand drove sales to historic highs last year. A decline in deliveries is widely expected this year before a projected return to growth in 2025.
($1 = 0.9326 euros)
(Reporting by Eva Orsolya Papp and Tristan Veyet in Gdansk; Editing by Milla Nissi)
Brought to you by www.srnnews.com
