Truck Orders Plunge 45% for AB Volvo
Commercial truck maker AB Volvo says orders for its vehicles dropped 45% in the third quarter.
The company predicts that heavy-duty truck markets in North America and Europe will shrink by 29% and 14% in 2020. Volvo Trucks says it cut production during the period and will do so again over the next several quarters.
Because deliveries trail orders by many weeks, the company’s net sales in July-September rose 7% to 99 billion kronor ($10.3 billion), and adjusted operating income in grew 7% year on year to 10.9 billion kronor ($1.1 billion).
The little car that could still can. And this time as a car that not only gets great fuel economy, but which has ride and handling that makes it more than an econo-box (and its styling is anything but boxy).
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