Volvo Truck said its deliveries fell 37% in November compared with the same month a year ago and down 7% on the previous month, with no signs yet of an upturn in the global market.
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The economic crisis has hit demand for commercial vehicles as years of easy credit for funding truck purchases dried up. Although some markets are showing signs of recovery, Volvo said that a return to the booming sales of recent years remained a distant prospect.
Volvo, which sells trucks under the Renault, Nissan Diesel, Mack and Eicher brands as well as its own name, said deliveries last month were down 45% on a year ago in Europe, its biggest market, while they fell 35% in North America.
In Asia, shipments were down 33% from a year earlier. The company has previously forecaste that the European truck market will halve this year while the already weak North American market will contract a further 30-40%.
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By GlobalData
