Examining the History of Sterling
Sterling is a heavy duty truck manufacturer based out of Portland, Oregon.
Owned by transportation giant Daimler Trucks, Sterling originally started out strong, but due to the recession, it has experienced severe decline in revenue.
In October of 2008, Daimler announced that the Sterling line of trucks would be discontinued over the next two years.
This was largely due to the fact that many consumers preferred their Freightliner vehicles over their Sterling models, and the costs of maintaining their production facilities located in St.
Thomas and Portland, Oregon outweighed the profit the Sterling trucks were generating.
Three months later, Daimler announced that no new orders for Sterling trucks would be accepted.
Because of this announcement, Sterling's performance figures for 2009 were very poor.
Out of the few remaining orders for their vehicles, the Sterling 360 models were the company's best seller.
The Sterling 360 could be modified into a fire truck, construction vehicle, or a school bus.
This line of semis were produced in cooperation with Mitsubishi, and was the companies last effort for bolstering the brand name of Sterling.
Sterling worst seller, their A class, which was made for basic transportation, was outmatched by its Freightliner counterpart.
Consumers preferred the economic quality and reliability of Daimler's Freightliner brand over the Sterling models.
Daimler soon announced the closing of its Sterling headquarters, which is slated for June, 2010.
With this announcement, Sterling's stock plummeted.
Once a promising investment, Sterling became outclassed by Daimler's other subsidiaries.
What is left of Sterling's worth is largely in its brand name, and it remains to be seen as to whether or not Daimler will sell it or retain it.
Although the company is going out of business, Daimler will still offer customer service to those that own Sterling vehicles.
Owners will be able to purchase replacement parts and have maintenance performed on their trucks through 2020.
Owned by transportation giant Daimler Trucks, Sterling originally started out strong, but due to the recession, it has experienced severe decline in revenue.
In October of 2008, Daimler announced that the Sterling line of trucks would be discontinued over the next two years.
This was largely due to the fact that many consumers preferred their Freightliner vehicles over their Sterling models, and the costs of maintaining their production facilities located in St.
Thomas and Portland, Oregon outweighed the profit the Sterling trucks were generating.
Three months later, Daimler announced that no new orders for Sterling trucks would be accepted.
Because of this announcement, Sterling's performance figures for 2009 were very poor.
Out of the few remaining orders for their vehicles, the Sterling 360 models were the company's best seller.
The Sterling 360 could be modified into a fire truck, construction vehicle, or a school bus.
This line of semis were produced in cooperation with Mitsubishi, and was the companies last effort for bolstering the brand name of Sterling.
Sterling worst seller, their A class, which was made for basic transportation, was outmatched by its Freightliner counterpart.
Consumers preferred the economic quality and reliability of Daimler's Freightliner brand over the Sterling models.
Daimler soon announced the closing of its Sterling headquarters, which is slated for June, 2010.
With this announcement, Sterling's stock plummeted.
Once a promising investment, Sterling became outclassed by Daimler's other subsidiaries.
What is left of Sterling's worth is largely in its brand name, and it remains to be seen as to whether or not Daimler will sell it or retain it.
Although the company is going out of business, Daimler will still offer customer service to those that own Sterling vehicles.
Owners will be able to purchase replacement parts and have maintenance performed on their trucks through 2020.
