FRANKFURT, Jan 14 (Reuters) - It will be at least another year until the situation at truck maker MAN SE improves, according to the chief executive of parent company, Volkswagen AG.
The year “2013 will certainly still be a critical year, but 2014, 2015, we can see some light at the end of the tunnel,” VW CEO Martin Winterkorn said on German television on Monday.
A downturn in 2012 forced MAN to cut the working hours of employees in Germany. More than 5,000 workers at MAN’s plants in Munich and the German city of Salzgitter are on shortened hours from Monday under the German government’s short-time work programme, called “Kurzarbeit”.
“New orders in the truck sector were not satisfactory in the second half of last year. They were better in December and I hope that the truck sector will continue to improve,” Winterkorn said.
Reporting by Maria Sheahan; Editing by Matt Driskill