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)
((mailto:Anastasiia.Kozlova@thomsonreuters.com))