European CV Manufacturers: Adopting ‘Euro 6' and turning to emerging markets

Market turmoil continues through first half of 2013

2013/10/04

Summary

欧州商用車の販売台数  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.