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Daimler Trucks May Increase Efficiency Plan

Trucks division could increase the scope of its previously announced savings and efficiency programs as demand continues to drop in the world’s truck market.

FRANKFURT (AP) -- The chief of Daimler AG's trucks division said the company could increase the scope of its previously announced savings and efficiency programs and that it hoped to save a low billion euro sum in total, but wasn't more specific.

"It's clear that when the world's economy softens, the world's truck market will be affected," Andreas Renschler, the chief executive of Stuttgart-based Daimler Trucks, said.

Daimler Trucks had already announced savings plans amid a drop in demand in past months.

Earlier this year, for example, Daimler Trucks -- whose brands include Mercedes-Benz, Freightliner, Western Star and Fuso trucks -- said it would pare back hours on production lines, especially in Germany.

The short work week, which affects some 18,000 workers at plants in Woerth, Gaggenau, Kassel and Mannheim, all in Germany, is expected to last through the summer.

The company has made other significant changes at the business recently, including shutting down several plants in North America.