MAN Reports Robust Financials and Strong Growth in the First Nine Months of 2026

MAN Truck & Bus posted a resilient performance during the first nine months of 2026, registering positive gains across all core financial and operational metrics compared to the previous year. Revenue climbed to €10.3 billion, marking a 4% increase, while total unit sales rose by 5% to 75,400 units. Incoming orders grew by 8% to hit 78,600 units. The company’s adjusted operating result improved to €639 million, up €82 million from the previous year, pushing the adjusted operating return up by 0.6 percentage points to 6.2%.

MAN CFO Inka Koljonen noted that the company has maintained stable operations, robust results, and strong cash flow generation for nearly four years. Koljonen pointed out that the third-quarter results were impacted by lower production and sales volumes during the summer break, alongside temporary short-term constraints from a truck component supplier that are expected to have minor effects in the fourth quarter of 2026.

Truck sales saw an 8% boost globally, driven by strong performance in European core markets outside Germany, where market share outside the DACH region reached a seven-year high. Meanwhile, truck sales in Germany stagnated during the first nine months. Incoming orders picked up momentum overall, supported by a 19% increase in German orders during the third quarter, aided by a successful IAA appearance in September.

The MAN TGE van continued its record run, delivering 23,400 units after nine months—nearly a 3% increase over its previous best year in 2025. Incoming orders for the TGE also hit a record high, with total production reaching 200,000 units since 2016. In contrast, the bus segment saw deliveries drop by 6% in a highly competitive environment, though preparations are underway for the start of serial production for the electric MAN eCoach, with the first units rolling off the line later this year.

Electromobility experienced rapid growth, albeit from a lower baseline. MAN delivered 1,480 fully electric vehicles in the first nine months—comprising 805 eTrucks and 675 eBuses—marking a 36% year-on-year increase. MAN has deployed over 3,300 eBuses across Europe, while its customer fleet of roughly 1,500 eTrucks has logged over 60 million kilometers with an average consumption of 95 kWh per 100 kilometers. At the IAA in Hanover, MAN showcased its comprehensive electric portfolio spanning 4 to 50 tons, including the TGE van, eTGL, eTGM, eTGS, and eTGX models.