Reuters reports that heavy-duty truck maker Scania posted a gain in third-quarter pre-tax profit just below expectations on Monday but said demand in its main Western European market could improve next year.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

According to Reuters Scania posted pre-tax profit of 765 million crowns ($99.4 million), in the third quarter compared with a consensus estimate of 771 million in a Reuter’s poll of 14 analysts, and with the year-ago figure of 532 million.

“The report was about in line with expectations, except for sales which were somewhat stronger than the markets had believed,” said an analyst quoted by Reuters. “The most striking was the weak order income in Western Europe, which underlines how insecure markets there are just now.”

In the first nine months of the year Scania’s order bookings for heavy trucks in Western Europe declined by 12 percent to 19,843 units from the year-ago’s 22,619. Western Europe accounts for about two thirds of Scania’s sales.

“Economic growth in Scania’s main markets in Western Europe was weak but is expected to improve somewhat next year,” Chief Executive Leif Ostling said in a statement. “Earnings for the rest of 2003 are expected to remain at a satisfactory level.”

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now