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Oct 26, 2010

TRUCKMAKERS' NEWS WORLDWIDE * Sweden - Scania pessimistic as revenues fall short

Frankfurt,Germany/Copenhagen,Sweden -The Financial Times, By Daniel Schäfer in Frankfurt & Clare MacCarthy in Copenhagen  -October 25 2010: --
Scania has unsettled investors by missing analysts’ third-quarter revenue expectations and warning that supply shortages and macroeconomic risks could hit the truck industry this year and next.
 
Scania third-quarter results to September 2010
SalesNet profitEarnings per shareDividend
SKr18.6bnSKr2.3bnSKr2.88-
↑38%↑728%↑722%-

The Swedish truckmaker on Monday reported a 38 per cent year-on-year revenue increase to SKr18.6bn ($2.8bn) in the third quarter, which fell far short of analysts’ forecasts and sent Scania’s share price down as much as 8.2 per cent... Leaf Östling, Scania’s president and chief executive, trampled on the widespread optimism in his sector when he said currency fluctuations and continuing weaknesses in the financial markets posed persistent risks to the truck industry’s recovery... His warning came as the global truck sector is enjoying rapid sales growth in emerging markets and a rebound in Europe from last year’s dismal levels... 

* Sweden - Scania Confirms Truck Market Recovery

Stockholm,Sweden -Dow Jones/The Wall Street Journal (USA)-25 Oct 2010: -- Swedish truck and bus maker Scania AB  Monday confirmed the recovery in the world's truck markets, reporting a jump in orders, deliveries, revenues and profits in the third quarter of the year, although orders and deliveries fell short of expectations... The company, majority-owned by Germany's Volkswagen AG, said the sharp rise in demand has increased the risk of bottlenecks as sub-contractors and companies that build the vehicle bodies struggle to keep up...


* Sweden - Volvo tests liquid gas truck in UK and Sweden

Stockholm,Sweden -Road Transport (UK), by George Barrow -21 October 2010: -- Trials of three liquefied natural gas-powered Volvo trucks have officially begun in Sweden, with testing also underway in the UK... The trial will see three companies in Sweden each run an FM truck converted to use liquefied methane gas (LMG). However, Roadtransport.com understands at least one test vehicle is already in service with an unnamed operator in the UK, with a further test being conducted in Thailand... The trial vehicles, being run by DHL, Götene Kyltransporter and Renova, have been fitted with special tanks to accommodate the fuel, which will be used in a 75-25 ratio with regular or bio-diesel. Volvo claims that while running on LMG, the 13-litre Euro-5 engine produces up to 80% less CO2 than a diesel engine and has twice the operating range of a vehicle using compressed natural gas... (Image roadtransport)


* South Korea - Tata Daewoo plans to enter Europe market

Seoul,S.Korea -Korea Joongang Daily -October 26, 2010: -- Tata Daewoo Commercial Vehicle Co., the Korean unit of India’s largest automaker Tata Motors Ltd., said yesterday it will soon begin selling its commercial trucks in the European market... Kim Jong-shik, president and CEO of Tata Daewoo, said the company was also considering shipping to Europe complete knockdown kits, or CKDs, that can be assembled into vehicles... Tata Daewoo was set up in 2004 after the Indian company acquired what began as the commercial vehicle unit of the now-defunct Daewoo Motor. The passenger vehicle unit of Daewoo Motor is now GM Daewoo Auto & Technology, the Korean unit of U.S. automaker General Motors Company... Kim also announced his company’s ambitious plan to become the largest commercial vehicle manufacturer in Korea next year by increasing its market share to more than 50 percent... (Photo: Tata Daewoo, a fully-owned subsidiary of Tata Motors and South Korea's Daewo CVC)

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