Daimler Truck 2020 sales drop 27% due to COVID

Thursday, 25. February 2021 11:25

Daimler Truck AG reported on Thursday that due to the coronavirus pandemic the company sold approximately 378,500 units, or 27% fewer per annum, in 2020.

As a result of the decrease, its revenues dropped 15% year-over-year, from €44 billion to €35 billion, while adjusted earnings before interests and taxes tumbled 75% to €678 million in the same period.

However, the fourth quarter of 2020 showed that the market demand was recovering, with the truck maker selling double the amount of units compared to the Q2, when the sales were hit the hardest by the pandemic. In 2021, the company said it expects a "significant" increase in sales and revenues.

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Breaking the News / MD