Traton's profit grows on US truck demand despite rising tariff costs (updated)

Volkswagen AG

28/10/2026 07:21

Recasts lede, adds CFO comments on US tariffs in paragraphs 6-8, background on US tariffs and refunds in paragraph 9
Adjusted operating profit rises 13% in January-September period
North American truck orders double in the first nine months of 2026
Tariff-related costs were about €80 million in Q3, CFO says
In Q4, tariff costs are expected to rise to roughly €160 million
By Anastasiia Kozlova
Oct 28 (Reuters) - Truck maker Traton 8TRA.DE reported higher nine-month earnings on Wednesday despite rising US tariff costs, while strong incoming orders signalled recovery in demand across key markets.
Volkswagen's truck unit said its adjusted operating profit rose 13% to €2.3 billion ($2.6 billion) between January and September, compared with around €2 billion in the same period last year, driven by favourable volume, pricing and product mix effects.
     "In North America in particular, we expect the market to gain further momentum towards year-end," finance chief Michael Jackstein said in a statement, reaffirming Traton's full-year outlook.
European truck makers have benefited from a rebound in North American orders after several years of subdued sales, with pent-up demand and improving market sentiment fuelling strong US order growth in the first nine months of 2026.
Incoming truck orders jumped 105% in North America in the nine-month period, as demand for heavy-duty trucks rebounded strongly, Traton said.
     
US TARIFFS REMAIN A HEADWIND
Net tariff-related costs, which totalled about €80 million in the third quarter, are expected to rise to roughly €160 million in the fourth quarter as sales volumes increase and fewer offsetting credits are anticipated, Jackstein said during a conference call.
"This estimate does not reflect any agreement with the US administration that may be reached during the quarter," he said, adding that talks with the Trump administration were constructive and that Traton saw a good chance of reaching a deal this year.
In February, the US Supreme Court struck down some tariffs imposed by President Donald Trump, allowing affected importers to seek refunds, but a separate 25% duty on imported heavy trucks remains in force.
     
($1 = 0.8981 euros)

(Reporting by Anastasiia Kozlova, editing by Izabela Niemiec and Milla Nissi-Prussak)
((Anastasiia.Kozlova@thomsonreuters.com))