The parent of MAN, Scania, and Navistar reported record vehicle sales of 338,200 units for 2023, a 10.7% improvement on the year prior (30,500 units).

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division profited from strong positive market developments resulting in an 11.5% increase in revenue to EUR 4,180.2 million (2022: EUR 3,750.0 million). Order intake was up 6.5% at EUR 4,212.2 million (2022: EUR 3,954.3 million).

The company announced record 2023 sales figures of USD 10.6 billion, an increase of 4% compared with 2022 figures of USD 10.2 billion. Adjusted EBITA rose by USD 145 million, to USD 845 million in 2023 (2022: USD 700 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 950 million.

Record sales (526,053 trucks and buses sold) led to record revenue in 2023 (EUR 55.9 billion) and an increase of EUR5bn compared with EUR 50.9 billion in 2022). Adjusted EBIT in 2023 grew by 39% to a record EUR 5,489 million compared with EUR 3.959 million in the previous year.

Tata Daewoo claims to have a presence in more than 90 markets worldwide, which includes using knock-down (KD) assembly operations in seven countries.

Iveco announced a positive set of financial results for the 2023 year, including EUR 16 billion in consolidated revenues (up 13% from 2022), an adjusted EBITA of EUR 940 million (up EUR 413 million compared to 2022) and an adjusted net income of EUR 352 million (up EUR 127 million from 2022 figures).

On 14 March, Schmitz Cargobull Ltd took over the King’s Suite of the Hilton Metropole, situated near the NEC in Birmingham, to launch the ‘S.KOe Cool’, an all-new fully-electric refrigerated semi-trailer which is the first of its kind to receive type approval for the European market.

Once valued at GBP 200 million (2022), the company has blamed UK Prime Minister Rishi Sunak for pushing back the ban on ICE vehicles. Lunaz has ceased operations of its commercial unit ahead of a restructuring, with plans to revive its passenger car repowering business in the near future.

The company announced record full-year sales of USD 3,035 million, which increased the Earnings Per Share (EPS) to a record USD 7.04, up 34 per cent from 2022. 2023 net income was USD 673 million, compared with 2022 figures of USD 531 million.

In an attempt to generate operational capital, the Board approved plans for an accelerated book-build offering of newly issued ordinary shares at an extraordinary general meeting on 29 January 2024.

The company reported a record production of 69,800 units (68,000 in 2022), up 1,800 from the previous year. 57,900 of these were medium and heavy-duty CF, XD, XF, XG and XG+ trucks that came off the production line (56,100 in 2022) and the other  11,900 being  LF and XB distribution trucks.

Inflation, higher energy costs, supply chain disruptions, and the continuing impact of the COVID-19 pandemic on the company’s finances were cited as reasons behind the decision to slash the company workforce.