MUNICH - TRATON GROUP, a prominent player in the global commercial vehicle market, reported a 5% increase in vehicle deliveries for the third quarter of 2024 compared to the same period last year. The Munich-based company announced that it sold 85,300 vehicles across its brands, which include Scania, MAN Truck & Bus, and Volkswagen (ETR:VOWG_p) Truck & Bus.
Despite the uptick in quarterly sales, the company experienced a 2% decrease in unit sales for the first nine months of the year, totaling 245,400 vehicles. The slight decline reflects a challenging year, with mixed performance across its various brands.
Scania Vehicles & Services saw a modest increase of 2% in Q3 sales, delivering 21,800 vehicles, while Volkswagen Truck & Bus experienced a significant 28% rise, selling 12,400 units. The robust market in South America was cited as a key driver for the growth in these segments, compensating for weaker European demand.
On the other hand, MAN Truck & Bus faced a steep 29% decline in Q3 sales with 19,900 vehicles sold. The brand has been particularly affected by the ongoing market difficulties in Europe, especially in Germany, with both truck and bus sales falling short of the previous year's figures.
The all-electric vehicle sector within TRATON GROUP also presented a mixed picture. Scania's all-electric vehicle sales doubled, while MAN Truck & Bus saw a 47% drop in the same category. Overall, the group's electric vehicle sales decreased slightly by 2% in the third quarter compared to the previous year.
International Motors, formerly known as Navistar (NYSE:NAV), marked a notable 41% increase in unit sales, delivering 31,500 vehicles. This recovery follows a setback earlier in the year due to a supplier's plant fire, which hindered production. The majority of the delivery backlog from this incident has been resolved, contributing to the positive sales performance.
Investors and analysts can expect a more detailed financial picture when TRATON releases its 9M 2024 Interim Statement on October 28, 2024. This report will provide a comprehensive overview of the company's financial health and operational performance for the first three quarters of the year. The information in this article is based on a press release statement from the TRATON GROUP.
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