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).
Ford has made an accomplishment that will never be bested, never even be tied.
The common wisdom seems to be that midsize cars have pretty much had it in the U.S. new car market.
If heritage means anything in this industry, then it is surprising that Buick doesn’t make more of its history because the story of the early years of the company is nothing short of astonishing.