MAN Truck & Bus sold around 47,030 vehicles in the first half of 2025, which is about five percent below the level of the previous year. However, around 26,420 units were sold in the second quarter, representing an increase of 28 percent compared to the first quarter. Specifically, 28,743 trucks (–9 percent), 3,231 buses (+9 percent), and 15,060 units of the MAN TGE transporter (+2 percent) were delivered, according to the manufacturer's recently released half-year results.
MAN-CEO Alexander Vlaskamp: “The demand for our vehicles is now clearly picking up again. The growth in orders is encouraging, although overall it is still at a low level. Our core market in Germany is currently at a level comparable to
the Corona crisis. Despite significantly lower volumes, MAN once again demonstrates a significantly improved robustness. I am proud of what we have achieved here in recent years!”
E-mobility with significant growth
The sales of electrified vehicles more than tripled with around 800 trucks, buses, and vans sold compared to the first half of 2024 (+238 percent). A significant contribution to this was made by the series launch of the new MAN eTrucks. The company continues to see itself as the market leader in the segment of electric city buses in Europe. Also in the area of heavy electric trucks, a significant market dynamic was achieved with over 700 orders.
MAN CFO Inka Koljonen: “In view of the
intensified competitive situation and ongoing market weakness, we will continue to optimize our cost structure and cash flow with the aim of sustainably increasing our resilience. We are cautiously optimistic that the positive trend in results and order intake will continue in the second half of the year. Nevertheless, we need to make ourselves more weatherproof for the future.”
Order intake and order-to-delivery ratio improve
The order intake rose to 52,485 units in the first half of 2025 – an increase of 43 percent compared to the previous year. The book-to-bill ratio improved accordingly from 0.75 to 1.12.
Revenue and earnings decline
Group revenue fell by six percent to 6,656 million euros. The new vehicle business contributed
the largest share with 3,983 million euros (–10 percent). The vehicle services business remained stable at 1,462 million euros, while other revenues amounted to 1,212 million euros (+1 percent). The adjusted operating result fell from 581 million euros in the previous year to 426 million euros. The operating margin decreased from 8.2 to 6.4 percent.
Outlook and measures for stabilization
In view of a generally weak market development, MAN aims to further optimize cost structure and cash flow to strengthen the company's resilience. For the second half of the year, the company is cautiously optimistic regarding order intake and earnings development. At the same time, MAN sees itself obliged to become even more robust in economic terms.
