BERLIN (GERMANY) – German luxury carmaker Daimler said on Wednesday that its plan for a spin off, with regard to Daimler Trucks will pave the way for the world’s largest truck and bus maker to become more profitable and put more focus on developing technologies to reduce carbon emissions.
Daimler said in a statement that the spin-off plan, announced earlier this month, would require the unit to be more agile, profitable and has the capacity to develop CO2-neutral drive technologies for trucks and buses.
Daimler said the truck business had seen a recovery in the fourth quarter, mainly in North America and Europe, selling 121,000 units. It would be selling double that of the second quarter, when sales were drastically affected by the coronavirus pandemic.
Daimler Trucks forecasts revenue for 2021 to be significantly above the prior-year level. Its aim is a significant increase in adjusted return on sales to 6-7%, up from 2% in 2020.