Volvo, the world’s number two truck maker, has affirmed its forecast of an unchanged to slightly stronger truck market in Europe and more robust demand in North America this year, according to Reuters.
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“The forecasts remain unchanged, with a small increase in Europe, possibly at the low end of our range, while demand in North America is substantially stronger,” chief executive officer Lief Johansson told Reuters on Tuesday.
The news agency noted that Volvo has said it expected the heavy truck market to grow 0-5% this year in Europe, its biggest market, while volumes in North America were seen increasing 15-20% in 2005 compared to last year.
Johansson reportedly said he expected the North American truck market to peak sometime in 2006 and probably ease off slightly in 2007, partly due to the introduction of new environmental regulations for truck engines.
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