Volvo's * Sweden & USA - Truck sales decline in third-quarter
* Stockholm / Sweden - Truck maker Volvo's sales slip across most markets
--- Swedish truck maker Volvo AB posted a 15% decline in third-quarter net profit on Friday due to lower truck sales in all its markets except Europe... Volvo, one of the world's largest truck makers, said net profit for the three months to Aug. 31 totaled 2.59 billion Swedish kronor ($290 million), compared with SEK3.07 billion in the same period last year... Volvo said its truck business, which accounts for about two-thirds of total sales, decreased by 13%... Chief Executive Martin Lundstedt said further steps will be taken to adjust production volumes downwards in North America...
(Photo: The Volvo's Iron Knight truck, breaks record fastest truck) -- Stockholm, Sweden - MarketWatch, by MATTHIAS VERBERGT - 21 Oct 2016
* Maryland / USA - Volvo cuts 143 workers at heavy-duty engine plant
--- The I-Shift automated manual transmission has been so popular with new-truck buyers – 71 percent are choosing it – that it’s now the tractor’s standard offering... Declining truck sales led Volvo Trucks to layoff 143 employees last month at its powertrain factory in Hagerstown, Md... The layoffs, effective in late September, follows 138 other job cuts made at the plant earlier this year... The 1.5 million-square foot factory in Hagerstown manufacturers Volvo D11, D13 and D16 engines along with Volvo I-Shift automated manual transmissions...
(Photo: An axle assembly display at the Volvo Powertrain factory in Hagerstown, Md.) -- Hagerstown, MD, USA - CCJ - October 20, 2016
Labels: truckmakers news Sweden