May 6 (Reuters) – Daimler Truck , one of the world’s biggest truckmakers, on Wednesday said its operating profit more than halved in the first quarter, hit by historically weak demand and import tariffs in its key North American market.
The company’s adjusted operating profit was 498 million euros ($583.56 million), compared with 1.08 billion last year.
Daimler Truck’s performance reflects a sharp slowdown in North America, where sales fell by a quarter to 29,432 units and where import tariffs imposed by the U.S. administration under Donald Trump have dealt a major blow to the auto sector.
The Trucks North America “continues to face tariff headwinds, with full tariff effects reflected in Q1 for the first time,” the group’s finance chief Eva Scherer said in a statement.
Adjusted return on sales in North America fell to 5.4% from 14.4% last year.
Daimler Truck still confirmed its full-year outlook, noting that incoming orders incoming orders at Trucks North America grew by 86% compared to the previous year.
($1 = 0.8534 euros)
(Reporting by Amir Orusov, editing by Christoph Steitz)
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