German truck manufacturers have summarised the past year, with both industry giants—Daimler Truck and Traton—reporting sales declines, mainly due to weak demand in Europe, particularly in their home market of Germany. The world’s largest truck manufacturer, Daimler Truck, reported annual sales 12% lower than in the previous year, amounting to 460,409 units. This trend was also influenced by a sharp decline in sales in Asia (22%), confirming the company’s earlier forecasts. Sales in Europe were 20% lower, with 126,477 trucks delivered.
The only positive aspect for Daimler Truck was a 17% increase in sales of battery-electric vehicles (BEVs), with 4,035 BEVs sold in 2024. However, BEVs still account for less than 1% of the company’s total sales.
Traton, the second German giant and the parent company of MAN and Scania, experienced a much smaller decline. The company sold 334,200 trucks in 2024, just 1% less than in 2023. Traton attributed this slight decline to weaker sales of its core MAN brand and delays caused by stricter regulatory requirements for vehicle software systems in Europe. Unlike Daimler, Traton saw a decline in electric vehicle sales, which fell by 18% to 1,740 units.
A drop of almost one-third
Paccar—the owner of DAF—experienced a much steeper decline than Daimler in Europe. In the fourth quarter of 2024, truck sales on the continent fell by 17.5%, mirroring a similar drop in its main North American market. Sales in Europe declined to 12,300 units, down from 14,900 in the same quarter of the previous year.
For the full year, Paccar’s European sales fell by 28.2% to 45,400 units, down from 63,200 in 2023.
“The company’s sales in Europe were hit hard by weak demand in Central and Eastern Europe, where DAF is particularly strong,” said Paccar Chief Financial Officer Harrie Schippers during a quarterly earnings call.
He added that deliveries in Poland and Lithuania, for example, dropped by 20% year-on-year.
Globally, Paccar sold 185,300 vehicles in 2024, representing a 9.3% decline from the 204,200 trucks sold in 2023.
Volvo Trucks maintains stability
Following record sales in 2023, truck manufacturers faced a slowdown last year—a trend that is expected to continue into 2025. However, Swedish manufacturer Volvo Trucks reported positive results. In the final quarter of 2024, the company increased vehicle sales by 24% to 61,200 trucks, with growth in Europe reaching 37% and North America 26%. Sales of medium and heavy trucks in Europe surged by 68% in the last quarter, rising from 14,800 to 24,825 units.
Overall, Volvo Trucks’ European sales in 2024 remained steady at 99,000 vehicles. The company recorded an 8% increase in medium and heavy truck sales in Europe, reaching 83,018 units, while sales of light vehicles declined by 27% to 15,892 units (compared to 21,626 in 2023).
Globally, Volvo Trucks’ total sales declined by 2% in 2024, falling from 204,897 units in 2023 to 200,895.
“We are starting to see orders driven by vehicle replacements in Europe, so I think that bodes well for this year,” said Handelsbanken analyst Hampus Engellau, as quoted by Reuters.
Volvo CEO Martin Lundstedt remains cautious, however, reiterating his October 2025 market forecast of 290,000 heavy-duty truck sales in Europe and 300,000 in North America.