Volvo Braces for 2020 Slump as Truck Orders Hit the Brakes
- Third-quarter order intake declines 45% as truck cycle turns
- Truckmaker now better equipped to handle downturn, Danske says
Source: Volvo Group
This article is for subscribers only.
Volvo Group is preparing for more output cuts after forecasting a slump in truck deliveries next year in North America and Europe on weaker demand.
Orders for heavy trucks slumped 45% from a year earlier, Volvo said Friday, which was more than analysts had expected, and deepening a drop from the the second quarter. For next year, Volvo expects the North American market to decline by 29% and Europe by 14%, after above-average demand in both regions for some time.