MAN Shows Signs of EU Slowdown

 

Georg Pachta-Reyhofen, chairman of management board of MAN SE

Georg Pachta-Reyhofen

In their latest reported figures, MAN appear to be suffering from a slowdown in Europe, as earnings were below what the market was expecting from the third quarter of this year.

Despite this, incoming orders at MAN Truck & Bus in the period from January to September were particularly strong, up by 23% on the same period in 2010).  It is the last quarter, with orders up by ‘just’ 10% that is causing some concern in the financial markets.

Georg Pachta-Reyhofen, MAN’s Chief Executive Officer is, nonetheless bullish, “The ups and downs in the financial markets, the fears of default by sovereign states, and increasing uncertainty have not yet really impacted MAN or our customers.

 “In the medium term, we shall have to cope with a certain level of uncertainty and with a decline in growth rates.” 

Indeed the company has already, “reacted to the trend in the order intake and has taken measures to adjust its capacity” although unlike Scania and Volvo, who have both reduced temporary staff levels, no details of these measures have been forthcoming

 

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Article by Jason Hodge Editor

Editor of Commercial Vehicle Dealer Magazine, Jason has worked in the commercial vehicle industry since leaving university 20 years ago. More about the Authors
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