Volvo Plans Gradual Boost in Truck Production
Volvo AB said Wednesday it is “gradually increasing production rates” as truck sales to emerging markets improve.
Volvo said it saw an increase in demand from Brazil, where economic growth, tax incentives and subsidized financing helped triple January sales
South American deliveries rose 172% year-over-year, while North American deliveries fell 20%, Volvo said.
Volvo said its total world truck sales fell 8% in January, to 9,423 units, led by a 36% decline in deliveries in Western Europe, its No. 1 market.
Medium-duty trucks, which are a small portion of Volvo’s total output, saw 6% increase in year-over-year January deliveries, the company said.
Volvo AB is the parent company of Volvo Trucks North America and Mack Trucks.
