Volvo Earnings Drop on Waning Freight, Construction Demand
- Swedish truckmaker reports lower orders in Europe, US
- Manufacturers in the region are under pressure to cut costs
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Volvo AB’s earnings declined in the third quarter as the truckmaker struggled with slowing demand for heavy-duty rigs in most markets.
Adjusted operating profit slipped to 14.1 billion kronor ($1.3 billion) due to lower freight and construction activity, the company said Friday. Analysts had projected 15.05 billion kronor.