February 8, 2013 / 11:06 AM / 5 years ago

MAN SE CEO eyes strong rebound in truck markets in 2014

BERLIN, Feb 8 (Reuters) - Germany’s MAN SE expects truck markets to rebound significantly next year as the company is bracing for its sales decline to continue through 2013, Chief Executive Georg Pachta-Reyhofen said.

The long-term prospects of truck markets are much better than the outlook for this year, the CEO said at a press conference in Munich on Friday.

The forthcoming introduction of stricter emission rules, known as Euro-6, could fuel truck sales in the fourth quarter as companies may bring forward planned purchases, he said.

Munich-based MAN, which expects another “disproportionate” drop in operating profit in 2013 after underlying earnings plunged 35 percent last year, has no plans to cut investments drastically, the CEO said.

Steps to rein in costs, however, included a decision to stop filling vacant positions, Pachta-Reyhofen said, adding he would rule out job cuts. (Reporting by Andreas Cremer)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below