"Daimler Trucks’ program of ‘Global Excellence’ calls for early and effective adjustments to market cycles. In this regard, Fuso has taken decisive steps to reduce costs and capacity to address the severe commercial vehicle market downturn over the past several months," Andreas Renschler, Member of the Board of Management of Daimler AG and responsible for Daimler Trucks, said.
"Now we take further, more far-reaching measures to strengthen Fuso’s ability to deliver benchmark profitability in a rapidly transforming global commercial vehicle market."
As part of its attempts to reduce loses as much as possible, the company reduced inventory levels by 45 percent since the last months of 2008 - exactly the period when the recession started making casualties in the auto sector. As a result, the company reduced expenses by 20 percent in the first quarter of 2009, with temporary shut downs or its plants playing a key role in its offering - demand aligning efforts.
"Within the realignment, all planned initiatives by Fuso together form a strong, mid-term plan for addressing the new realities of the global commercial vehicle market, increasing our competitiveness and continuing a spirit of partnership with our customers," Mitsubishi Fuso Truck and Bus Corporation Chairman Takao Suzuki added.