Results across the major groups still vary widely, but the broader direction is similar: order intake in Europe is picking up, and interest in electric trucks continues to build. Executives also warn that the next few months are likely to remain volatile.
MAN lifts truck volumes and gains share in Europe
MAN Truck & Bus delivered one of the strongest starts to the year among Europe’s manufacturers. In the first quarter of 2026, the group increased revenue by 8 percent to 3.3 billion euro, while total vehicle sales rose 14 percent to 23.6 thousand units.Truck deliveries were the main driver, up 21 percent to 14,583 vehicles. MAN also strengthened its position in the EU 27+3 truck market, where its share climbed to 15.5 percent—an increase of 1.8 percentage points compared with the same period a year earlier.
Order intake held steady at 27,850 vehicles, despite persistent economic and geopolitical uncertainty.Profitability improved notably as well. Adjusted operating profit rose from 133 million euro to 239 million euro, and the operating margin increased from 4.3 percent to 7.2 percent.
Electric trucks pick up pace
MAN points to accelerating interest in battery-electric trucks. In the first quarter, deliveries of electric vehicles increased 44 percent to 540 units, including 340 e-trucks.The manufacturer links the shift to high fuel prices and the rising cost of running diesel fleets. More carriers are looking at ways to lower operating costs and reduce exposure to fuel price swings.
MAN also notes that, for certain duty cycles—especially where a large share of mileage falls under tolling—electric trucks can reach payback faster than they could a few years ago.
Daimler Truck: fewer sales, but a much stronger order book
Daimler Truck presented a more mixed picture. The group opened 2026 with a strong rise in orders, even as sales and profitability moved in the opposite direction.
The global order book expanded by 50 percent to 114,043 vehicles. The sharpest rebound came from North America, where orders jumped 86 percent. In the Mercedes-Benz Trucks segment, orders grew 33 percent.Over the same period, group revenue fell from 10.6 billion euro to 9.1 billion euro, and vehicle sales declined from 75,758 to 68,849 units.
Adjusted EBIT dropped from 1.079 billion euro to 498 million euro, while the operating margin slipped from 9.6 percent to 5 percent.
Daimler Truck said the weaker outcome was driven mainly by lower profitability in North America, alongside the impact of tariffs and trade tensions.Even so, the company kept its full-year 2026 guidance, pointing to rising orders and improving market expectations for the coming quarters.
Iveco squeezed by costs and a weak South American market
Iveco Group also faced a difficult start to 2026. The company ended the first quarter with an adjusted EBIT loss of 55 million euro, compared with a 117 million euro profit a year earlier.Group revenue, however, was broadly stable at 2.828 billion euro.
The biggest challenge remains South America. Deliveries of medium and heavy trucks in the region fell 42 percent, while the overall market contracted by 18 percent.Europe looked considerably stronger. The medium and heavy vehicle market grew 10 percent, and Iveco increased deliveries of light commercial vehicles by 17 percent.
The manufacturer also highlighted continued solid demand. New contracts rose 31 percent in light commercial vehicles and 5 percent in the medium and heavy segment.
In Europe, the current order book represents around seven weeks of production for light commercial vehicles and roughly nine to ten weeks for trucks and medium-duty vehicles.
The sector stays cautious about the months ahead
The latest results suggest Europe’s truck market is gradually returning to growth after a weaker 2025. The improvement is most visible in stronger order intake and better momentum in long-haul transport.
At the same time, manufacturers continue to face pressure from high production costs, geopolitical risks, and an unstable trade environment across the Americas.Investment in e-mobility is also becoming increasingly important. Producers report growing interest in e-trucks, even though volumes remain limited compared with diesel-powered vehicles.
