Volvo swings to quarterly loss amid weak truck market
Swedish truck maker Volvo said that it swung to a fourth-quarter loss of 1.3 billion Swedish kronor. Last year, the firm posted a profit of 4.0 billion kronor. Sales declined to 77 billion kronor, from 84.6 billion kronor last year. The truck market was weak in all of the group's primary markets of Europe, North America and Japan, resulting in lower order intake, the firm said.
It added that, due to the market situation, it is difficult to make an assessment of truck market trends for 2009 but it doesn't expect a recovery in demand during the first half of the year. "In the coming quarters, Volvo Group will be characterized by the adaptation to a new, lower cost level," said CEO Leif Johansson.
Views:0
- World's First: Volvo Built Electric Trucks with Fossil-Free Steel 2022-11-11
- Volvo to Supply 20 Heavy-duty Electric Trucks to Amazon 2022-10-10
- Volvo Trucks Starts Series Production of Heavy Electric Trucks 2022-09-15
- Volvo Trucks Launches FH with I-Save in China 2022-04-29
- Volvo FH with I-Save to be Launched in China, Cutting Fuel Cost by 10% 2022-04-22
- Volvo, Daimler And Traton Agree On JV Charging Network for Europe 2021-12-27
- China Premier: VOLVO Trucks To-Be-Locally-Produced Flagship Model FH 2021-11-09
- 30 Days Countdown to CIIE, Volvo Group Announces Participation in the Expo 2021-10-11
- Volvo Trucks Acquires Heavy-duty Truck Manufacturing Operation in China 2021-08-24
- ZF Attends 2021 Volvo Auto Asia-Pacific Science Day on Sustainable Development 2021-07-23
Submit Your Requirements, We Are Always At Your Service.
- World’s First All-electric Scania Car Transporter Goes into Service
- China’s First Mining Specialized Remote Sensing Satellite Launched
- SINOTRUK Delivers Full Year 2022 Results, Heavy Truck Sales Down 52.50%
- FOTON and Cummins Team up to Build a New Engine Plant in Thailand
- SANY Awarded as 2022 Forbes China TOP 50 Sustainable DEV Industrial Enterprises
- Daimler Trucks and Buses Signs Deal with XCMG Fire Fighting
- FAW Jiefang Sichuan Branch Was Officially Established
- Bus & Truck Expo Set to be Held in May 2023
- Yutong, SCG Signed MoU for Green Mining in Thailand
- CAT Displays Its First Battery Electric Large Mining Truck
- Half Year Review of Commercial Vehicle Sales
- China Exported 63,000 Trucks in May, Up 33% YoY
- Top 10 Best-selling Battery-swapping Heavy Trucks in China in April
- China Exported 158,000 Trucks in Q1, Up 41% YoY
- China’s Truck Exports Grew by 43.8% YoY to 46600 Units in Feb., 2023
- China’s Heavy Truck Sales Rising 29% YOY to 77200 in Feb
- China Exports 567,000 Trucks in 2022, Hitting a New High in a Decade
- China’s Pickup Exports Jumped 65% YOY in 2022
- China's Truck Exports Grew by 42% YOY to 53,000 Units in November
- Heavy Truck Sales in China Fell by 9% YoY to 46000 Units in Nov.