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Fiat, Cummins Look for Traction in Sliding Truck Market

Truck and engine manufacturers Fiat Industrial SpA (FI.MI) and Cummins Inc. (CMI) are counting on rebounding sales of commercial trucks this year after seeing demand for trucks skid for most of the past 12 months.Italy's Fiat blamed a 15% decline in first-quarter profit on a loss at its Iveco commercial truck and engine unit. Iveco swung to 9-million-euro ($11.7 million) loss in the quarter following a EUR63 million profit a year ago. Fiat Industrial trimmed it profit-margin forecast for 2013 to 7.5% to 8.3% from 8.3% to 8.5%, but Fiat Chairman Sergio Marchionne said he expects Iveco's results to improve as the year unfolds."We think the truck side has bottomed in the first quarter of this year," Mr. Marchionne said in remarks to analysts. "We need to see how the market develops for the rest of the year."Iveco is viewed by analysts as the weakest link in Fiat Industrial, which also is the holding company for farm and construction machinery maker CNH Global NV (CNH). The companies are b...

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