MAN predicts China and Brazil will promote truck industry
(chinatrucks.com, April 6,2010) The CEO of German truck company MAN SE (MAN.XE), Georg Pachta-Reyhofen, said on Thursday that new and developing markets, such as China, Brazil, will promote the industry after the market slump in 2009.
Pachta-Reyhofen also announced at the board meeting that “four golden brick countries” are still the global focus, including Brazil, Russia, Indian, and China.
MAN plans to promote a new truck brand with Sinotruk (Hongkong) Ltd in Asia this year, and MAN has procured 25% share of this company last year.
Pachta-Reyhofen said MAN is very cautious about the industry prospect in 2010, and measures will be taken to promote efficiency and reduce cost.
It is predicted by MAN that the commercial auto industry will stay at the current level in 2010, and the sales revenue of diesel and eddy current engine will slightly go down.
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