Annual Report 2010 - Knorr-Bremse AG.

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Markets
There was a distinct upturn in the European commercial vehicle market, even though it failed
to return to pre-crisis levels. Production figures rose significantly in virtually all segments.
Knorr-Bremse successfully tendered for a wide range of projects, winning new orders in North
and South America and also in many Asian countries.
Europe
Recovery in the truck market picked up speed during the course of the year under review. In Western
Europe, truck production was up 60% at 320,000 units, and trailer production also recovered, expanding
by more than 50% to exceed the forecast output of 105,000 units. Developments in Central and
Eastern Europe were also positive, with truck output rising by 37% to 75,000 units. However despite
these increases, sales remained well below pre-crisis levels.
North America
2010 saw the decline in North American truck production halted for the first time since 2006. Output
was 23% up on the previous year at some 218,000 vehicles, though this was still 56% below the record
level achieved in 2006. Aftermarket developments were also positive. Against a background of these
positive trends, Knorr-Bremse North America won a number of important orders.
South America
In a context of economic recovery in all segments – particularly the construction, infrastructure and raw
materials industries – combined with measures to facilitate vehicle financing, transport volumes in
South America increased significantly during the year under review. As a result, South American commercial
vehicle production rose 56% in 2010 to 184,000 units, surpassing the record level achieved in
2008.
Asia/Australia
2010 saw truck production in Asia/Australia continue to expand, driven mainly by output in China,
which was 47% up at 1,328,000 vehicles. The commercial vehicle markets in India and Japan also recorded
growth. Knorr-Bremse benefited from this positive trend, winning important orders for compressors,
torsional vibration dampers, disc brakes and electronic brake control systems.