This is a record high, the Volkswagen subsidiary explained on Monday. More stable supply chains and a high order backlog boosted growth. Truck sales also increased by eleven percent to around 281,000 units. However, incoming orders fell by a fifth to just under 265,000 vehicles. Orders for trucks fell by 23 percent. "This is a sign that the pent-up demand caused by the Covid-19 pandemic and the war in Ukraine, among other things, is gradually normalizing," explained the holding company with the MAN, Scania, Navistar and VW Trucks brands.

Uncertainty about economic developments and higher financing costs dampened demand. However, the order book is so well filled that production is running at full capacity into the second half of the year. "I am therefore confident that 2024 will also be a successful year for Traton and our customers," explained Traton CEO Christian Levin.

Competitor Daimler Truck was only able to increase deliveries by one percent to 526,00 trucks and buses last year, missing its sales target of five percent growth.

(Report by Ilona Wissenbach, edited by Ralf Banser. If you have any queries, please contact the editorial team at frankfurt.newsroom@thomsonreuters.com)