FRANKFURT, Germany — German car and truckmaker Daimler AG says it expects a turnaround in the global truck market and an improvement in the truck division's 2010 earnings before interest and taxes.
The Stuttgart-based company said Wednesday the truck division hopes to earn $272 million in earnings before interest and taxes in 2010 from a loss of about $1.4 billion in 2009. The 2009 loss was a result of weak demand in the downturn and restructuring charges.
Daimler says the truck division's 2009 revenue fell 36 percent. For the full year 2009, it sold 259,382 trucks — a decline of 45 percent.
Daimler is the world's largest truckmaker with brands including Mercedes-Benz, Freightliner and Mitsubishi-Fuso.
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