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EU truck sales edge up in June

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EU truck sales edge up in June
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Commercial vehicle sales in the European Union were up in June, but by just 1.5 percent; that is slower growth than in previous months. Fewer vans and buses were sold in the month.

Truck sales rose 13.5 percent in the first half of the year, reflecting a recovery in international trade.

Across the region rises in the UK and Germany were offset by lower sales in Spain and France.

The 1.5 percent rise in June commercial vehicle sales compared with a 25.1 percent year-on-year increase in May and a 9.5 percent increase in April.

Truck and heavy equipment maker Fiat Industrial on Monday raised its 2011 targets after beating second-quarter profit forecasts, helped by record margins for agricultural equipment and a recovery in European truck markets.

Last week Volvo, the world’s second-largest truckmaker after Daimler, said Chinese measures to slow inflation would hit the booming market as it presented an otherwise upbeat quarterly report.

Rival Scania on Thursday posted higher sales volumes which were offset by higher costs which bit into margins.