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• MFTBC majority shareholder Daimler Truck achieved its financial targets for 2021 despite headwinds
• Daimler Truck saw a significant increase in group sales due to recovery in important markets
• FUSO has achieved top shares in key international markets in 2021, including Indonesia (46.7%), Taiwan (33.6%), Europe (37.1%)*, and New Zealand (19.7%)*
Stuttgart, Germany/Kawasaki, Japan — Mitsubishi Fuso Truck and Bus Corporation (MFTBC; headquarters: Kawasaki City, Kanagawa Prefecture; President and CEO: Karl Deppen) announces that majority shareholder Daimler Truck Holding AG (“Daimler Truck”) benefitted from an overall economic recovery in the most important commercial vehicle sales markets in the financial year 2021 and significantly increased its group sales. With 455,400 units, 20% more trucks and buses have been sold worldwide in 2021 compared to prior-year level (378,300 units). The Truck Asia segment**, which includes the FUSO brand, achieved 30.1% above the previous year in global sales. Amidst these positive developments, FUSO managed to gain top share in key international markets.
In Indonesia, FUSO’s largest overseas market in terms of volume, FUSO sales increased by 43% against the previous year due to recovering demand. MFTBC managed to take advantage of this trend, keeping the number 1 position in the local commercial vehicles market with a share of 46.7%. A consistently strong performance in the light-duty segment supported this achievement.
Positive sales trends were also seen in other Asian markets, despite a challenging environment. In Singapore, FUSO claimed 20% of commercial vehicle sales, and in Taiwan, where FUSO claims a long history of market leadership, the brand managed to win a 33.6% share, gaining on the 2020 result.
In Europe, FUSO recorded a 10-year high in sales volume, once more claiming the top market share in the light-duty truck segment at 37.1%. Continuing demand for last-mile delivery solutions amidst pandemic restrictions bolstered Canter sales. The new Canter with improved design and safety features was launched successfully in 2021, in time to meet such customer needs.
FUSO also took the number one spot in New Zealand, where recovering demand, a growing dealership network, and an infusion of new models in recent years contributed to a market share of 19.7%. In response to customer needs, Mitsubishi Fuso has introduced advanced safety features across all segments in the local product lineup, while also launching the pioneering all-electric eCanter truck. The 2021 sales results are a new record for the distributor Fuso New Zealand Ltd, which began its partnership with MFTBC in 2016.
The order intake in the final months of 2021 developed positively, with December figures marking 54% above previous year levels. MFTBC is confident that this trend will aid further achievements through 2022, despite industry-wide headwinds. Carbon neutrality initiatives throughout the value chain and ongoing sales of the eCanter, which have now covered a distance of 4.5 mil km in customer hands, keep MFTBC at the forefront of the sustainability transformation. With additional product launches in the pipeline for many overseas markets, as well as new eMobility developments in view, MFTBC will continue to provide industry-leading commercial vehicles in support of “all who keep the world moving”.
Additional information and documents (Annual Report, Capital Market Presentation, Fact Book etc.) including a detailed FY2021 disclosure on Daimler Truck’s five reporting segments are available online in Daimler Truck’s investor relations section:
*Share of market figures for the EU and New Zealand based on conditions elaborated below:
EU: trucks up to 10 tons
New Zealand: only trucks and light-duty buses
**Trucks Asia develops, manufactures, and sells truck and buses under the FUSO and BharatBenz brands. It also sells trucks and buses under the Mercedes-Benz brand in the Asian region.
The FUSO lineup in New Zealand
The new Canter launched for the European region in 2021
Daimler Truck at a Glance
Daimler Truck Holding AG (“Daimler Truck”) is one of the world’s largest commercial vehicle manufacturers, with over 40 main locations and more than 100,000 employees around the globe. The founders of Daimler Truck have invented the modern transportation industry with their trucks and buses a good 125 years ago. Unchanged to this day, the company’s aspirations are dedicated to one purpose: Daimler Truck works for all who keep the world moving. Its customers enable people to be mobile and get goods to their destinations reliably, on time, and safely. Daimler Truck provides the technologies, products, and services for them to do so. This also applies to the transformation to CO2-neutral driving. The company is striving to make sustainable transport a success, with profound technological knowledge and a clear view of its customers’ needs. Daimler Truck’s business activities are structured in five reporting segments: Trucks North America (TN) with the truck brands Freightliner and Western Star and the school bus brand Thomas Built Buses. Trucks Asia (TA) with the FUSO and BharatBenz commercial vehicle brands. Mercedes-Benz (MB) with the truck brand of the same name. Daimler Buses (DB) with the Mercedes-Benz and Setra bus brands. Daimler Truck’s new Financial Services business (DTFS) constitutes the fifth segment, the product range in the truck segments includes light, medium and heavy trucks for long-distance, distribution and construction traffic and special-purpose vehicles used mainly in the municipal and vocational sector. The product range of the bus segment includes city buses, school buses and intercity buses, coaches and bus chassis. In addition to the sale of new and used commercial vehicles, the company also offers aftersales services and connectivity solutions. In 2020, approximately 378,500 trucks and buses were delivered.
Daimler Truck Asia at a Glance
Daimler Truck Asia (DTA), under Daimler Truck AG, is an organizational unit that jointly operates Mitsubishi Fuso Truck and Bus Corporation (MFTBC) – an icon in the Japanese commercial vehicle industry with more than 90 years of history with its Fuso brand – and Daimler India Commercial Vehicles (DICV), an up and coming challenger in the Indian market. DTA adopts a strategic business model that allows its group entities to collaborate on product development, production, exports, sourcing and research activity to provide innovative, cutting-edge and best-value products to customers. DTA’s vision is “to develop mobility solutions to embrace a better life for people and the planet,” in alignment with Daimler Truck’s purpose, “For all who keep the world moving.”
MFTBC at a Glance
Based in Kawasaki, Japan, Mitsubishi Fuso Truck and Bus Corporation (MFTBC) is one of Asia’s leading commercial vehicle manufacturers, with 89.29% of its shares owned by Daimler Truck AG and 10.71% by various Mitsubishi group companies. An icon in the Japanese commercial vehicle industry with a longstanding history of 90 years with its FUSO brand, MFTBC manufactures a range of commercial vehicles including light, medium, and heavy-duty trucks and buses, and industrial engines for over 170 markets worldwide. In 2017, MFTBC introduced the “eCanter”, the first all-electric light-duty truck in series-production. In 2019, FUSO’s Super Great became Japan’s first heavy-duty truck fitted with Level 2 Automated Driving Support Technology, setting a benchmark in the Japanese commercial vehicle market.
FUSO at a Glance
FUSO is a Daimler Truck brand, offering a range of commercial vehicles from light, medium, and heavy-duty trucks and buses, to industrial engines and connectivity solutions for over 170 markets worldwide. A longstanding landmark Japan’s commercial vehicle landscape, the brand has leveraged Japanese quality and craftsmanship to set benchmarks in efficiency, safety, and comfort for over 90 years. FUSO is particularly renowned for its offerings in the light-duty segment. The Canter light-duty truck claims the top market share in various markets around the world. In 2017 the eCanter became the first series produced all-electric light-duty truck in Japan, establishing FUSO as a pioneer in eMobility. FUSO promises customers a “Future Together,” a bold claim that continues to drive the brand’s contributions to safe and sustainable transport.