STOCKHOLM -- Swedish truck maker Scania said on Tuesday it saw the fall in Western Europe truck demand bottoming out some time during the current year with a rebound taking place in the second half of 2004.
"I think we will reach bottom some time towards the end of this year," Scania Chief Executive Leif Ostling told Reuters at an investment conference. "Then there should be a slight upturn during the second half of next year."
Last month Scania posted stronger-than-expected first quarter results despite weak global demand for vehilces, and warned of a higher risk of subdued demand later in the year.
Scania's market share in western Europe, where about 56,000 heavy trucks were sold in the first quarter, dipped to 14.7 percent from 14.9 percent a year ago.