Light on the Horizon at MAN? After a weak year in 2024 and an equally weak first quarter of 2025, one figure catches attention: The order intake of the Munich-based commercial vehicle group rose by a hefty 49.76% from 18,682 to 27,978 units compared to the previous year's quarter.
Chief Financial Officer Inka Koljonen: “The positive trend in order intake is solidifying. It was 50% above the comparison quarter of the previous year and is now at a level that was last reached at the end of 2022 or early 2023. We are cautiously optimistic
that the slightly positive trend in growth can continue throughout the year. Therefore, we are also preparing for the exit from short-time work at the German locations.”
Current Figures Still Declining
This trend is not yet reflected in the current figures. In the first quarter, sales at 20,600 units were 14% below the previous year's level, mainly due to reduced deliveries of trucks and buses to the EU27+3 region. Particularly in the truck sector, there was a significant drop from 15,188 to 12,036 vehicles, a decrease of 20.75%. The bus sector (-7.81%, 1,381 units) and
especially the van sector (-2.02%, 7,196) performed better.
As a result, group revenue at 3.1 billion euros was 11.86% below the previous year's level. The adjusted operating result fell significantly to 143 million euros, mainly due to lower sales and higher factor costs, compared to the previous year's 278 million euros, a substantial decrease of 48.56%. The adjusted operating profit margin accordingly reached 4.6%, which is 3.3 percentage points lower than in the same period.
178% More E-Vehicles
However, with the market launch of the MAN eTruck, the topic of electromobility is gaining momentum. 380
sold buses and trucks in the first three months represent an increase of 178% compared to the first quarter of 2024. The ongoing strong demand for electric city buses is particularly driving this. Furthermore, MAN delivered a large part of the pre-series of the eTruck to its customers in the first quarter. Its series launch at the Munich production site is planned for June. To meet the rapidly increasing demand for batteries, MAN also started its own series production of batteries for E-trucks and E-buses in April in Nuremberg, with a total investment of around
