The company cut jobs, auctioned off spare parts, sold a portion of its business to Chinese battery manufacturer Gotion and shifted its business model towards an Original Equipment Designer (OED) model, focusing on design and development whilst outsourcing production.

The company announced 2024 sales figures of USD 10.3 billion, a decrease of USD 300 million compared to 2023 figures of USD 10.6 billion. Adjusted EBITA rose by USD 40 million, to USD 885 million in 2024 (2023: USD 845 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 650 million.

BorgWarner’s full-year financial year results included net sales of USD 14,086 million, a decrease of 0.8% compared to 2023 (14,198 million). Gross profit was up in 2024 with a figure of USD 2,648 million compared to 2023 figures of USD 2,568 million with an operating income of USD 1,417 million, or 10.1% of net sales.

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division’s revenues were down 13.9% due to unstable geopolitical and market conditions. 2024 revenues came in at EUR 3.84 billion (2023: EUR 4.18 billion). Order intake was down 14.6% at EUR 3.74 billion (2023: EUR 4.21 billion).

Hankook has published its 2024 financials with consolidated global sales of EUR 6,380.7 million, compared to EUR 6,329.5 million in 2023. Operating profit increased by 5.3 percent to EUR 1,194.6 million (2023: EUR 940.1 million) in 2024.

The Krone Commercial Vehicle Division generated EUR 1.58 billion in revenues, a decrease of 26.1% compared with 2023 figures of EUR 2.14 billion.

The company announced its 2024 financial results, with revenues down by EUR 19.5 million in 2024 at EUR 151.8 million compared with EUR 171.3 million in 2023.

Reduced volumes in the truck and powertrain sectors, reduce 2024 revenues but lower operating costs deliver improved margins.

Daimler announced decreased sales in 2024, with 460,409 trucks and buses sold compared with 526,053 in 2023, a 12% decrease. This is a rocky start for recently appointed CEO Karin Rådström, who succeeded Martin Daum late last year.

Mercedes-Benz Trucks y Buses Ltda is investing in warehousing and manufacturing in Argentina.

DAF Trucks UK has been the market leader in the UK truck (trucks >6t) market for 30 years. T&BB analyses the reasons behind this continued success and poses the question, will DAF UK remain the market leader for the next 30 years as the industry transitions to zero emissions?

DAF Trucks UK has been the market leader in the UK truck (trucks >6t) market for 30 years.