Scania to Boost Production as 2Q Truck Orders Rise

Swedish truck maker Scania AB said it plans to increase production as its second-quarter orders rose 15%, Bloomberg News reported Friday.

The company’s net income declined 6% to about $1.37 billion, while sales contracts rose 15.2% to 22,564 from a year earlier Bloomberg reported. Deliveries rose 33%.

Scania, which is controlled by Volkswagen AG, reports its earnings in Swedish kronor. 

The company is rolling out new models that meet tighter emissions standards to increase sales to counter an economic decline in Europe, Bloomberg said.

Scania said in the coming years it will raise its production capacity to 120,000 vehicles, Bloomberg reported.