FUSO maintains top share in key international markets as Daimler Truck achieves financial targets in 2022

• MFTBC majority shareholder Daimler Truck has achieved its 2022 financial targets and holds a positive outlook for 2023
• The Truck Asia segment increased unit sales by 9% above 2021 levels^[1]
• The FUSO brand has maintained leadership positions in key markets such as Indonesia (41.1%) and Europe (39.1%)

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”) has achieved its financial targets for 2022, benefitting from robust demand in its key markets. At 520,291 units, 14% more trucks and buses were sold in 2022 compared to the previous year (455,445 units). The group’s Truck Asia segment, which includes the FUSO brand, achieved 9% above the previous year in volume sales at 155,967 units.

• • In Indonesia, where a new Euro IV-compatible product lineup was introduced, FUSO trucks sustained their position as market leader, at a 41.1% share of market. Supported by improved overall demand, particularly in the mining sector, sales and order intake levels saw an increase against the previous year. The Canter, a longtime mainstay in the Indonesian trucking industry, remained the local favorite with a majority of the light-duty segment.
    
    
  • In Europe, FUSO managed to achieve a market share of 39.1% in the relevant 3.5-10 ton truck market segment, which represents a growth of 2.0% against 2021 results^[2]. With orders opened for the remodeled all-electric eCanter after the vehicle’s European premiere at the IAA Transportation 2022, FUSO is also expected to grow favorably among a customer base requiring sustainable last-mile delivery solutions. 

• • Sales developed favorably in other notable markets in the Asia Pacific region. In Singapore, FUSO achieved a share of 22.5% -- a growth of approximately 2.2% compared to the previous year. FUSO also maintained its leadership position in New Zealand at 20.1%, supported by market demand and a strong performance in the heavy-duty segment with the Shogun truck^[3]. Sales of the new eCanter will also be expanded to both New Zealand and Singapore, as well as Australia and Hong Kong in the near future.

Overall, unit sales grew positively for the FUSO brand in the majority of foreign markets in comparison to 2021, despite challenges in global logistics and parts availability. Although difficult economic conditions continue, Daimler Truck has announced it expects a robust development in important commercial vehicles sales markets in 2023. In the coming months, MFTBC will be ramping up its e-mobility efforts with further regional launches of the eCanter truck, following the start of sales in Europe and Japan.

[1] 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.
[2] Share of market figure for Europe based on relevant segment of 3.5-10 ton trucks.
[3] Share of market figure for New Zealand based on trucks and light-duty buses.

Additional information and documents including a detailed full-year 2022 disclosure on Daimler Truck’s five reporting segments are available online in Daimler Truck’s investor relations section on the website:

https://www.daimlertruck.com/en/investors/arc23-press

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 over 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 and in 2019, the Super Great – Japan’s first heavy-duty truck fitted with Level 2 Automated Driving Support Technology, a benchmark in the Japanese commercial vehicle market. MFTBC operates under the umbrella of Daimler Truck Asia, together with its partner organization Daimler India Commercial Vehicles (DICV) in India. This strategic unit allows the entities to collaborate on areas such as product development, parts sourcing and production to provide the best value to customers.

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 in Japan’s commercial vehicle landscape, the brand has leveraged Japanese quality and craftsmanship to set benchmarks in efficiency, safety, and comfort for 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.

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.