Tuesday, December 16, 2008

Number Of The Day " European Volvo Net New Truck Orders Now Negative"

I have a strong feeling that we will see similar order intakes from other parts of the world & and different industries in the not so distant future...... I cannot help but somehow the erosion ( or implosion ) of the backlock from the homebuilders comes to my mind....... I assume we will see a comeback of "vendor financing" ...... I have already heard chatter on this topic in several conference calls from GE, Siemens, Boeing, EADS etc...... Wouldn´t be the first time this "strategy" will be backfiring down the road..... But with very few companies having a strong balance sheet going into this long downturn there is at least some hope this won´t get out of control.... But with the culture to prefer short term gains still not dead .......

Ich bin mir ziemlich sicher das wir ähnliche Orderdaten demnächst auch aus anderen Teilen der Welt und leider auch aus anderen Branchen sehen werden....... Das ganze ruft in mir Erinnerungen an die Implosion der angeblich vollen Auftragsbücher bei den Homebuildern wach....... Ich bin mir ziemlich sicher das wir demnächst ein Comeback der Lieferantefinanzierung sehen werden....... Konkrete Aussagen zu diesemThema gab es bereits von Siemens, GE, Boeing und EADS...... Wäre nicht das erste mal das diese Strategie auf lange Sicht mit hohen Risiken verbunden ist. Da aber kaum ein Unternehmen momentna ne starke Bilanz vorzuweisen hat dürften uns Auswüchse wie in der Vergangenheit ( erinnere an die Telekomzulieferer die nachher auf Mrd. an Forderungen sitzen geblieben sind ) erspart bleiben......

Reuters World number two truckmaker Volvo said on Tuesday deliveries had tumbled 21 percent year-on-year in November and that its order book was shrinking rapidly amid a sharp market contraction.

Volvo, whose brands include Renault, Nissan Diesel and Mack as well as its own name, said deliveries fell 42 percent in its biggest market, Europe, and 22 percent in North America.

Volvo has already suffered the effects of this decline, reporting in late October a 100 percent fall in order bookings after clearing its books of uncertain orders and cancellations ( see Number / Shocker Of The Day "Volvo New Truck Orders"..... ) . .

Volvo said a weak order trend from the third quarter had continued

with the number of cancelled orders in October and November eclipsing new orders by some 1,800 trucks in Europe.

"When we saw zero order intake in the third quarter, it looked like this couldn't get any worse -- but it has," said an analyst who asked not to be identified.

"A negative order intake in Europe, that probably had not been anticipated by the market."


> To end on a positive note..... Volvo is up almost 4 percent on this kind of news ( and 30% from the bottom a few weeks ago ) and all competitors ( Scania, MAN, Daimler ) are also in the green.......

> Nach soviel Doom & Gloom ist es zumindest mehr als bemerkenswert das Volvo fast 4% im Plus notiert ( und nebenbei bemerkt satte 30% vom Tief vor einigen Wochen ) und auch alle relevanten Wettbewerber ( Scania, MAN, Daimler ) im grünen Bereich sind......

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2 Comments:

Anonymous eh said...

Tja, crazy.

Frohliche Weinachten JMF.

5:34 AM  
Blogger jmf said...

Moin Eh,

schade das wir mit unserem "Doom & Gloom" Prognosen seinerzeit wohl noch zu optimistisch waren.....

Wünsche Dir auch ein frphes Fest und ein gesundes 2009.

10:11 PM  

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