Daimler Truck Shares Decline Amid Falling Q3 Sales; Weakness in Mercedes-Benz and Trucks Asia Units

Daimler Truck experienced a decline in share price on Wednesday following its sales update for the third quarter of 2024, which revealed a drop in overall unit sales compared to the same period last year.

The company reported sales of 114,917 trucks and buses, a decrease from 128,861 units sold in the third quarter of 2023, indicating weakened demand in key markets.

This decline was primarily attributed to decreased sales in two significant segments. Mercedes-Benz trucks reported a decline, selling 28,688 units in the third quarter, down from 40,077 units during the same period last year.

Trucks Asia also saw a downturn with sales of 32,245 units, a drop from 38,052 units in the third quarter of the previous year. These declines outweighed any gains made in other areas of the business.

Conversely, the company did see a slight improvement in the North American market, with the Trucks North America division reporting sales of 49,176 units, an increase from 47,249 units in the same period last year. However, this uptick was insufficient to counteract the overall sales decline.

Daimler’s sales of battery-electric vehicles (BEVs) offered a small point of optimism, with 666 electric trucks sold in the third quarter, up from 491 units in the third quarter of 2023. Despite this growth, BEV sales still represent a relatively small portion of the company’s overall sales.

Additionally, the bus segment, Daimler Buses, reported slightly lower sales compared to the previous year, with 6,677 units sold in the third quarter of 2024, down from 6,789 units in the same period last year.