Daimler chief eyes 50% growth in truck market

HANNOVER, Ger. — Fifty percent over five years.

That’s how much the world truck market is going to grow, according to Andreas Renschler, the boss of Daimler Trucks worldwide.

Renschler was speaking at a press conference on the first day of the giant Hannover Commercial Vehicle Show when he made the optimistic claim.

According to media reports, Renschler predicted that the traditional markets of North America, Europe and Japan will play not just second but more like 16th fiddle to other growing economies.

Most of the growth, he said, will be in Brazil, Russia, India and China (a.k.a. BRIC) as well as a group of even faster-growing economies, countries he called “The Next 11.”

These include Bangladesh, Egypt, Indonesia, Iran, Mexico, Nigeria, Pakistan, the Philippines, South Korea, Turkey and Vietnam.

As an example, he cited Turkey, asserting that Daimler expects that country’s economy to grow by 70 percent this year alone.

And Indonesia, he said, has nearly 240 million people, which is more than Germany, France, Great Britain and the Benelux countries put together.

Based on revenues, Daimler is the world’s biggest producer of commercial vehicles.

Renschler also predicts a sharp spike in the demand for electric and hybrid vehicles, because an increasing percentage of the world’s citizens live in cities and manufacturers will be forced to reduce emissions even further.

However, you’re not going to see the demise of diesel for some time to come, he said. It’ll be the most prevalent fuel even by the time you’re retired. 


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