Traton's report by segment
- Scania Vehicles & Services had an adjusted operating return on sales of 10.6% in the first nine months of 2025. The decline is attributable to lower sales revenue and lower unit sales, negative currency effects and higher expenses as the company builds a new plant in China.
- MAN Truck & Bush recorded an adjusted operating return of 5.6% over the first nine months of 2025, a nearly stable rate year over year.
- International Motors' adjusted operating result fell to 1.6% as lower sales revenue and unit sales could only partially be offset by savings in product and fixed costs.
- Volkswagen Truck & Bus improved its adjusted operating return on sales to 12.4% despite a decline in sales revenue.
Traton Group, parent company of International Motors, says European sales are stable, but lower Brazilian and North American sales weighed on third quarter revenue.
"The market environment in which we operate as the Traton Group remains challenging, particularly in North America and Brazil," says Christian Levin, CEO. "In Europe, too, a robust turn-around in demand is still not in sight. We therefore have to succeed without tailwinds from the markets. Speed is crucial, espeically when it comes to innovation."
Traton by the numbers
Sales revenue was off 8% to $37.5 billion. Vehicle Services was stable, Traton says, with its share of total sales revenue increasing to 20%. Financial services' segment increased 13% on increased portfolio volume.
Incoming orders were up 7% year over year to 202,100 vehicles.
[RELATED: International hit hardest by Q3 sales dip, Traton reports]
"In North America, customers remained cautious amidst ongoing uncertainty regarding the U.S. tariff policy and its potential impact on the U.S. economy," Traton says in a release. "This led to a noticeable drop in the demand for trucks."
International's adjusted operating result fell to 1.6%. Lower sales revenue due to decreased unit sales could be partially offset by savings in product and fixed costs. Traton also makes Scania Vehicles and Services, MAN Truck & Bus and Volkswagen Truck & Bus.
"In these economically challenging times, we are increasingly focusing on cost discipline," says Dr. Michael Jackstein, CFO and CHRO. "We are staying on track with our investments regardless. ... We will also continue to invest in future topics like battery electric vehicles and autonomous driving. The fact that our brands achieved a respectable overall result under sometimes difficult conditions in the first nine months of 2025 is something we consider quite an achievement. We thus remain confident in our financial guidance for full-year 2025."
Looking ahead at Traton
The group continues to expect a range of -10% to 0 for unit sales and sales revenue. Adjusted operating return on sales is forecast at the lower end of the guidance range of 6-7%. Net cash flow of Traton Operations is also expected to be at the lower end of the range of $1.1-$1.75 billion.
"The guidance continues to be subject to macroeconomic and geopolitical developments," the company says. "In addition, the impact of U.S. trade policy remains uncertain."
