European truck shares fall on U.S. electric vehicle rules reversal
March 13 (Reuters) - Shares in European truck makers fell on Thursday, with traders and analysts pointing to the U.S. Environmental Protection Agency's (EPA) decision to start efforts to reverse the Biden administration's vehicle emissions rules.
Daimler Truck DTGGe.DE, which was contacted by Reuters but was not immediately available for comment, took the biggest hit and was down 8% at 0847 GMT.
The EPA said it is also reconsidering a 2022 regulation that aims to drastically cut smog- and soot-forming emissions from heavy-duty trucks, saying the rule makes trucks more expensive.
Analysts said trucking fleet firms had been expected to "pre-buy" trucks before the rules took effect, driving up demand, but this is now unlikely to happen.
The United States is the most important market for Daimler, which has invested heavily in emission-free drive systems with a view to climate protection goals and corresponding regulations.
Other big fallers in Europe include Sweden's Volvo VOLVb.ST and Traton 8TRA.DE, down 4%.
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