Lorry orders hit the brakes at Volvo Group

  • News Digest

Apr 25, 2019-

STOCKHOLM: Lorry manufacturer Volvo Group said on Wednesday that orders for its trucks fell by over a third in the first quarter although both sales and profits shot higher. With transportation a key element of the real economy, the performance of the Swedish-based firm

that also manufacturers Mack and Renault trucks can indicate trouble down the road. While new orders fell by 36 percent, primarily due to North America, the reason has more to do with production constraints rather than demand. “As expected, order intake in the region has remained low as our order books are close to full for 2019,” chief executive Martin Lundstedt said in a statement. (AFP)

Published: 25-04-2019 10:49

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