Daimler Truck Q2 sales drop 15%, electric vehicle sales surge 69%

Daimler Truck, the world’s largest commercial vehicle manufacturer, reported a 15% decline in second-quarter sales, attributing the drop to a normalization in the truck market. The German truck maker sold 112,195 vehicles in the second quarter, down from 131,888 units during the same period last year.

Despite the decline, Daimler Truck saw a positive trend in its electric vehicle (EV) segment, with sales surging by 69% compared to the previous year. This increase reflects the company’s strategic focus on expanding its electric vehicle offerings.

Daimler Truck AG, officially known as Daimler Truck Holding AG, operates over 35 main locations worldwide and employs approximately 100,000 people. Headquartered in Leinfelden-Echterdingen, Germany, the company boasts a market capitalization of $31.74 billion. Daimler Truck was part of Daimler AG until its spin-off in December 2021.

The company’s history includes a diverse portfolio of brands under its Daimler Truck and Daimler Buses divisions, including BharatBenz, Freightliner, FUSO, Mercedes-Benz Trucks, RIZON, Setra, Thomas Built Buses, and Western Star. In 2019, Daimler Truck delivered around 489,000 vehicles in the medium and heavy-duty truck segment, securing its position as the global market leader.

Daimler Truck was established as a subsidiary of Daimler AG in 2019. In February 2021, Daimler announced its intention to spin off Daimler Truck into a separate listed entity, a move approved by shareholders in October 2021. Following the spin-off, Daimler Truck Holding AG was created to manage the assets of Daimler Truck AG, with Daimler AG retaining a 35% stake and transferring 5% to its pension trust. The newly independent Daimler Truck went public on December 10, 2021, marking a new chapter in its long-standing history.

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