MAN hit by low European sales

GERMAN truck and bus maker MAN said Europe’s commercial vehicle market had put the brakes on in the third quarter, and warned that demand would likely remain muted in the region for the rest of the year.

MAN’s operating profit fell by one per cent to €321m (£277m) in the three months through September and return on sales narrowed to eight per cent from 8.6 per cent.

But the group still confirmed its overall outlook for 2011, banking on robust demand in Latin America.