• Sun. Dec 10th, 2023

Profit slumped at truck maker scania


Apr 15, 2023
profit slumped at truck maker scania

Sales fell by 15 percent to 17.9 billion kroner (2.1 billion euros), as the company announced on monday. An outlook for the coming period is difficult, said group CEO martin lundstedt. He announced greater flexibility in production and tighter cost control at the volkswagen subsidiary.

The decline in order intake slowed in the third quarter, however. The latter fell by ten percent; in the first six months of the year, the swedes had to put up with a minus of 16 percent. From july to september, scania put 14,847 trucks and buses on the road, 21 percent fewer than a year ago. Operating profit slumped by more than a third to just under 1.9 billion crowns.

Scania is betting in europe that its comparatively old truck fleets will soon have to be replaced with new trucks. In the growth market of brazil, demand was depressed by a slump in the economy, among other things. Here, order intake has recently improved again, also thanks to government subsidies. Across latin america, they actually increased compared to the third quarter of 2011.

Scania had already announced in september that it would maintain its investment of 1.5 billion kroner despite the current gloomy outlook, especially for europe. Production capacity to be expanded from 100,000 to 120,000 trucks and buses annually by 2015. The swedes want to be able to produce 150,000 vehicles at the next economic peak.


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