Electronics Production |
Cautious optimism in the European truck market
Signs of recovery in the market are reflected in the fact that in the first quarter there was a significant increase in orders for new trucks received by PKC's main customers in Europe and Latin America in comparison to the same period a year earlier.
Registrations of heavy-duty trucks declined in Europe approximately 29% compared to the first quarter of the previous year. As a result of strong March, however, the number of registrations clearly rose by comparison with the registrations of the first quarter of the year to the previous quarter.
The fact that the truck orders received by PKC's main customers during the first quarter in Europe and Latin America exceeded the number of deliveries during the same time can be regarded as an indication of recovery in the markets.
It is generally estimated that the sales of heavy-duty trucks shall grow approximately 10% in Europe this year on the previous year. Due to the exceptionally high stock sales during the comparison year, production quantities should increase in Europe by one-fourth at minimum for the anticipated growth in sales to be realized.
Sales of agricultural tractors and construction machines are expected to continue to decline from the year 2009 sales. On the other hand, sales of forestry equipment are expected to rise after an exceptionally weak comparison year.
Deliveries and new orders of heavy-duty trucks in Latin America increased significantly on the corresponding quarter the previous year. It is estimated that truck registrations in Latin America shall grow during the current year by about one-third from last year's exceptionally weak level.
In North America the registration quantities of heavy-duty commercial vehicles have continued their growth with each consecutive month as of the beginning of the year. Due to free transport capacity, it is estimated that the overall market shall nevertheless remain on the level of the previous year.
