Hyperdrive
Volvo Falls After Outlining Truck Output Cut on Lower Demand
- Fourth-quarter truck orders decline 9% after record deliveries
- Volvo earnings beat despite cost pressure, tough supply chains
Trucks at the Volvo plant in Gothenburg, Sweden.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Volvo AB declined after saying the truckmaker will gradually reduce production to move in line with normalizing demand following years of supply-chain disruptions that left manufacturers with record order banks.
“The pent-up demand situation which characterized 2022 and 2023 has largely been absorbed by the transport industry and lead times, particularly in Europe, are back to more normal levels,” the world’s second-biggest truckmaker said Friday.