Daimler saw growth stagnate in the first eight months

Daimler, the world's biggest commercial vehicles manufacturer, saw growth stagnate in the first eight months of this year as demand for trucks stalled in the United States.

It sold 311,000 new trucks from January to August, up from 309,656 in the same period last year, the company said on Tuesday. New orders rose 3 percent.

"Things won't be any easier for our commercial vehicle business in 2009," Daimler Trucks chief Andreas Renschler said in remarks prepared for a news conference at the IAA truck fair.

Nonetheless, he expected a slight increase in 2008 truck sales due to greater need for transportation in emerging markets as their economies grow.

Demand sagged in particular in the North American market, where sales dropped 18 percent to 72,000 vehicles, in line with market expectations, mainly due to the worsening economic situation in the United States.

"There was no second-half recovery as economists expected and the forecasts for the commercial vehicle market have been lowered month by month," Daimler said in a statement.

But sales of its Mercedes-Benz brand trucks rose 9 percent to 110,000 vehicles in January through August, mainly due to a surge in growth in Brazil and the Middle East, and Daimler expected a sales record for the brand this year.

The company said it received 20,000 orders for its revamped flagship Actros long-haul truck since its sales launch, with the first vehicles of the third-generation truck to be delivered to customers within days. 

Sales of its Mitsubishi Fuso trucks rose 6 percent to 129,000 in the first eight months due to strong demand outside of its Japanese market. Daimler said the brand should also post a new sales record this year.

Sales of its Mercedes-Benz transporters, including its Vito and Sprinter delivery vans, rose 6 percent through August. Daimler sold a total of 196,000 vehicles and said its transporter business should also post all-time high sales.

Daimler shares fell 1.5 percent to 38.48 euros by 0736 GMT, better than the DJ Stoxx European car stocks index, which was down 3.3 percent.

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