MUNICH, Oct 2 (Reuters) - A recovery in Chinese and
German truck markets will not come quickly, Martin Daum, the
outgoing CEO of the world's biggest truck maker Daimler Truck
, told a press event late on Tuesday.
He said he did not expect a recovery in the Chinese truck
market this year or next, adding that China was in a deep
crisis, according to remarks published on Wednesday.
In Germany, Europe's largest truck market, Daum still saw
"no light at the end of the tunnel".
Daimler Truck wants to double its electric truck and bus
sales this year to 6,000 vehicles, said Daum, who was replaced
by former Scania manager Karin Radstrom as of Tuesday, the first
woman at the helm of the German group.
Daum also said that a pure focus on sales returns was wrong
and that absolute profit was more important for him.
Daimler Truck's supervisory board Chairman Joe Kaeser has
called on the company to catch up with the margins of 14-15% at
competitors Paccar ( PCAR ) and Volvo - something
that Daum called a "thought experiment".
Daimler's adjusted operating return on sales was 9.9% last
year, and the company expects to raise it to 12% by 2030.