STUTTGART, Germany, March 19 (Reuters) - Daimler said its buses business, the only unit at the car and truck company to post a loss last year, would become profitable again in 2013 helped by rising demand in Brazil.
“We will increase revenue and vehicle sales in 2013, and we will make a profit,” Hartmut Schick, head of Daimler Buses said in a statement.
The prospect of stricter emission rules introduced in Brazil in early 2012 had prompted many customers there to bring forward investment in buses and to then refrain from purchases.
While the business environment in Europe would “remain very challenging”, other important markets such as Brazil would return to growth in 2013, the company added.
Daimler Buses last year lost 232 million euros ($301 million) before interest and tax, while its cars, trucks, vans and financial services units posted profits. ($1 = 0.7717 euros) (Reporting by Hendrik Sackmann; Writing by Ludwig Burger)