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Daf predicts depressing news
Page 18
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• Daf expects a 25% fall in income this year, and is predicting a loss of between £6.5m and ilOm for the first half of 1990. The company's UK truck sales fell by 16% in the first quarter: better than the 25% UK average fall, but bad news for Daf which generates around 40% of its sales in this country.
It predicts that European truck sales over 3.5 tonnes will fall by around 8% in 1990, and by another 1% in 1991.
Sales in the UK truck market are expected to drop by around 22% in 1990 and by 2% more in 1991.
Though Daf sales are forecast to remain close to last year's 58,660, the company says the mix will weaken as van sales increase and truck sales decline. As a result, turnover is expected to fall by around 5% in this year, though the company expects to be in profit overall.
In an attempt to rebalance stock levels, Daf introduced a four-day working week at its UK plants in mid-February, and this will be maintained until mid-May.