Traton warns US truckers deferring orders over recession fears

WASHINGTON: Truckers in the United States are deferring orders over fears of a global recession, Volkswagen’s truck unit Traton said in a call with investors on Monday, according to an analyst note by Bernstein Research.

Traton, which in March had said it did not see a significant impact from US tariffs on its imports from Mexico, now expected its North American market to shrink by 10 per cent, even before the impact from tariffs or a possible recession, the note said.

The investor call was held before a closed period on company information before its first-quarter results on April 28.

Traton was not immediately available for comment.

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The truckmaker also expected margins down “meaningfully” in Q1, driven by the volume decline, according to the note. Still, order momentum remained positive in Europe and production was being increased.