Wednesday, 22 February 2012 at 13:00, Reuters, Stockholm
Volvo said unit shipments were up 4 per cent in Europe while Asia deliveries were down 7 per cent. (REUTERS)
World number two truck maker Volvo AB said on Wednesday shipments of its trucks rose 2 per cent year-on-year in January, with a 22 per cent jump in North America helping offset weaker markets elsewhere.
Volvo, which sells trucks under the Renault, Mack, UD Trucks and Eicher brands as well as its own name, said unit shipments were up 4 per cent in Europe while Asia deliveries were down 7 per cent.
Deliveries totalled 15,647 in the month.
It said shipments in western Europe were down 1 per cent, while deliveries surged 31 per cent in eastern Europe.
Truckmakers have seen demand pick up since the last downturn in 2009, but worries about slowing global growth and the eurozone debt crisis have soured the outlook.
Earlier this month, Volvo reported a 26 per cent rise in fourth-quarter operating profit to 6.96 billion Swedish crowns ($1bn), compared with a forecast for 7.20bn.
CEO Olof Persson said at the time it was difficult to forecast demand for trucks in 2012 due to the uncertainty in Europe.
It expects a slow start to 2012 with a pick-up later.
Volvo, which competes with market leader Daimler AG , has already cut production in Europe and Brazil to meet weaker conditions.
Deliveries to South America were down 16 per cent in January from a year ago.
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