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TRUCKMAKERS' NEWS * WORLDWIDE
* Brazil - VW may double truck, bus exports from
Sao Paulo,Brazil -The Detroit News -2 July 2008: -- Volkswagen AG said it may double bus and truck exports from Brazil in the event the country's currency falls about 30 percent... The real, now trading at an average 1.60 per dollar, is likely to "correct itself" in the short term, said Antonio Roberto Cortes, chief executive officer of Volkswagen's truck and bus division in Brazil... A rate of 2.10 reals to the dollar would let Volkswagen expand bus and truck sales abroad to 40 percent of production from 20 percent now... The Wolfsburg, Germany-based carmaker is raising truck and bus production 26 percent to 270 vehicles a day by adding a third shift at the Resende plant in Rio de Janeiro state. Volkswagen aims to make 60,000 commercial vehicles in Brazil this year, including 50,000 trucks....
* Sweden - Volvo climbs after UBS raises recommendation
Stockholm,Sweden -Bloomberg/The Detroit News -2 July 2008: -- Volvo AB, the world's second-largest truck maker, rose in Stockholm trading after UBS AG increased its recommendation on the stock, citing the company's "valuation."... Volvo advanced 0.7 percent to 72.5 kronor after rising earlier by 4.9 percent, the sharpest gain since Feb. 18. The increase gave the Gothenburg, Sweden-based company a market value of 152 billion kronor ($25.4 billion)...
Labels: truckmakers' news worldwide
posted by Unknown @ 11:51 AM
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