Volvo Chief Holds to Gloomy North American Forecast
The recovery of the North American truck market is coming “slower than we thought at the beginning of the year,” Volvo CEO Leif Johansson told reporters after an investor meeting in France, Reuters reported.
Volvo earlier had noted the persistent sluggishness of the U.S. market in an April earnings report (click here for previous coverage).
Strong European truck sales have offset sluggishness in North America in recent years, and Johannson noted that while sales in Europe appear to have receded from last year’s peak levels, that market “continues to grow,” Bloomberg reported.
Volvo’s North American business is headquartered in Greensboro, N.C. Volvo owns Mack Trucks. Both Volvo and Mack will use selective catalytic reduction in their North American trucks to meet the Environmental Protection Agency’s 2010 emission requirements.
