(Reuters) -Sales of Daimler Truck were hit by weakness in its Trucks North America segment in the third quarter, the German truck maker reported on Wednesday. Sales in the segment shrank by nearly 40%
Daimler Truck Faces 40% Sales Decline in North America for Q3
Daimler Truck's Q3 Sales Performance Overview
(Reuters) -Sales of Daimler Truck were hit by weakness in its Trucks North America segment in the third quarter, the German truck maker reported on Wednesday.
Impact of U.S. Tariffs on Sales
Sales in the segment shrank by nearly 40% from the year before, at 30,225 units.
Freightliner and Market Position
Shares were down 2% on Wednesday after the sales results.
Overall Group Sales Decline
An already weak German automotive sector is currently facing U.S. import tariffs, which U.S. President Donald Trump earlier this week said would be ramped up to 25% from November 1 for all medium- and heavy-duty trucks.
He had initially announced that the 25% truck tariffs would start October 1, which had sent shares of Daimler Truck and German peer Traton down.
That is despite the fact that neither exports to the United States from Europe as they have factories in the U.S. as well as sites in Mexico that are covered by the USMCA free trade pact.
Daimler Truck does however own U.S.-based Freightliner, which may be set to benefit from the tariffs.
Daimler Truck's overall group sales were down to 98,009 trucks and buses from 114,917 in the same quarter last year.
(Reporting by Marleen Kaesebier in Gdansk, Editing by Miranda Murray)
