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Volvo upbeat on sales recovery

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Volvo upbeat on sales recovery

Volvo upbeat on sales recovery
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Volvo has rolled out stronger-than-expected earnings and said sales growth for its trucks should remain in double digits in both Europe and North America next year.
 
The world’s second-biggest lorry maker posted an operating profit the equivalent of 528 million euros in the third quarter.
 
In the same period last year it lost 350 million euros. 
 
Volvo and rivals such as market leader Daimler have seen the highly cyclical demand for heavy-duty trucks pick up in recent months after experiencing the worst downturn in decades due to the global financial crisis.
 
The recovery has been led by booming growth in emerging markets in Latin America and Asia, but truck markets in Europe and the United States have also rebounded from the lows they hit during the crisis as the broader economy has improved.
 
The Swedish company, which also makes buses, construction equipment, engines and aerospace components, said order bookings for trucks rose 59 percent year-on-year in the third quarter.