European CV Manufacturers: Adopting ‘Euro 6' and turning to emerging markets
Market turmoil continues through first half of 2013
2013/10/04
- Summary
- Volvo to increase profit and expand in new markets by 2015
- Iveco ends 1H 2013 in red
- MAN's sales in Latin America increases, but European sales continue to decline
- Scania increases sales volume for 1H 2013 but profit decreases
Summary
2012 total sales volume for the four European commercial vehicle automakers, Volvo, Iveco, MAN, and Scania, decreased by 10.1% year-over-year to 575,000 units. The decline continued through the first half of 2013 and decreased by 3.8% y/y to 261,000 units. During the first half of 2013, only Scania grew its sales by 22.5% y/y to 43,000 units, while the rest of the companies all declined.
In Europe, a new gas emissions regulation, Euro 6, will become effective to both medium- and heavy-duty commercial vehicles from January 2014. The companies released models incorporating new technologies including new natural gas powered engines. Meanwhile, in the emerging markets, the four companies are shifting toward enhancing production and sales networks. As the outlook of the rest of 2013, Volvo maintains its original forecast of the European truck market: 230,000 units. MAN expects the European market to continue the turmoil, while Brazil starts recovering. Scania expects to see an increase in demand at the latter half of 2013.
Related Reports:
Daimler AG targets 940,000 CV sales by 2015 (Mar. 2013)
North American commercial vehicle market trends (Jan. 2013)
Volvo/Iveco/MAN/Scania: Sales volume, sales, and operating profit
| Units | 2008 | 2009 | 2010 | 2011 | 2012 | YoY 2011- 2012 |
Jan.-Jun. | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2013 | YoY | |||||||||
| Volvo | Sales volume | Vehicles (units) |
261,088 | 137,538 | 190,218 | 251,177 | 234,695 | (6.6%) | 104,374 | 90,400 | (13.4%) |
| Sales | 1 million SEK | 304,642 | 218,361 | 264,749 | 310,367 | 303,647 | (2.2%) | 160,746 | 131,100 | (18.4%) | |
| Operating Profit | 15,851 | (17,013) | 18,000 | 26,899 | 17,622 | (34.5%) | 13,949 | 3,744 | (73.2%) | ||
| Iveco | Sales volume | Vehicles (units) |
192,100 | 103,900 | 129,600 | 153,400 | 137,000 | (10.7%) | 62,766 | 61,401 | (2.2%) |
| Sales | 1 million Euro | 10,894 | 7,183 | 8,307 | 9,562 | 8,924 | (6.7%) | 4,172 | 3,970 | (4.8%) | |
| Operating Profit | 838 | 105 | 270 | 490 | 469 | (4.3%) | 189 | (8) | - | ||
| MAN | Sales volume | Vehicles (units) |
103,705 | 82,609 | 126,279 | 155,520 | 136,271 | (12.4%) | 68,383 | 65,550 | (4.1%) |
| Sales | 1 million Euro | 10,610 | 7,807 | 10,586 | 12,563 | 11,692 | (6.9%) | 5,796 | 5,828 | 0.6% | |
| Operating Profit | 1,056 | 51 | 528 | 965 | 454 | (53.0%) | 213 | 142 | (33.3%) | ||
| Scania | Sales volume | Vehicles (units) |
73,793 | 43,443 | 63,712 | 80,108 | 67,401 | (15.9%) | 35,395 | 43,351 | 22.5% |
| Sales | 1 million SEK | 88,977 | 62,074 | 78,168 | 87,686 | 79,603 | (9.2%) | 42,139 | 39,338 | (6.6%) | |
| Operating Profit | 12,512 | 2,473 | 12,746 | 12,398 | 8,300 | (33.1%) | 4,257 | 3,971 | (6.7%) | ||
| Total sales volume of four companies |
Vehicles (units) |
630,686 | 367,490 | 509,809 | 640,205 | 575,367 | (10.1%) | 270,918 | 260,702 | (3.8%) | |
| Source: Four companies' Annual Reports 2008-2012, Interim Reports 2013 Q2 | |
| Notes 1. | Numbers in brackets "( )" represent negative value. |
| 2. | SEK stands for Swedish Krona. The exchange rate is about 0.12 Euro/15 YEN per SEK |
(Reference) Number of registered new medium/heavy-duty commercial vehicles in Europe
| GVW | Regions | 2008 | 2009 | 2010 | 2011 | 2012 | YoY 2011- 2012 |
Jan.-Jun. | ||
|---|---|---|---|---|---|---|---|---|---|---|
| 2012 | 2013 | YoY | ||||||||
| Vehicles between 3.5t-16t | 18 Western European countries | 406,265 | 254,417 | 258,751 | 315,395 | 297,904 | (5.9%) | 135,701 | 118,317 | (14.7%) |
| New EU members | 64,406 | 23,303 | 31,907 | 44,456 | 42,302 | (5.1%) | 19,714 | 19,389 | (1.7%) | |
| Europe total | 470,671 | 277,720 | 290,658 | 359,851 | 340,206 | (5.8%) | 155,415 | 137,706 | (12.9%) | |
| Vehicles greater than 16t | 18 Western European countries | 290,939 | 172,146 | 175,558 | 225,985 | 211,165 | (7.0%) | 99,573 | 87,023 | (14.4%) |
| New EU members | 47,116 | 14,967 | 23,143 | 37,078 | 35,440 | (4.6%) | 17,353 | 16,837 | (3.1%) | |
| Europe total | 338,055 | 187,113 | 198,701 | 263,063 | 246,605 | (6.7%) | 116,926 | 103,860 | (12.6%) | |
| Total | 18 Western European countries | 697,204 | 426,563 | 434,309 | 541,380 | 509,069 | (6.3%) | 235,274 | 205,340 | (14.6%) |
| New EU members | 111,522 | 38,270 | 55,050 | 81,534 | 77,742 | (4.9%) | 37,067 | 36,226 | (2.3%) | |
| Europe total | 808,726 | 464,833 | 489,359 | 622,914 | 586,811 | (6.2%) | 272,341 | 241,566 | (12.7%) | |
| Source：ACEA (Association des Constructeurs Europeens d'Automobiles g.i.e.) | |
| Notes 1. | Value for Jan.-Jun. 2012 & 2013 is preliminary value. |
| 2. | Eighteen Western European countries mean 15 original EU countries plus Norway, Switzerland and Iceland. |
| 3. | New EU member countries are Czech Republic, Estonia, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Hungary, and Bulgaria. |
| 4. | Values for Jan.-Jun 2012 & 2013 do not include medium-sized/large buses. The number of registered medium-sized/large buses in Europe is 15,989 units for 2012 and 14,694 units for 2013 |
| 5. | Numbers in brackets "( )" represent negative value. |
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