Volvo has said its truck deliveries rose four percent in August thanks to growth in Asia, which offset declines in Europe and North America.
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Sales (deliveries) in Europe were down 10%, and sales in North America were down 19%. Sales in western Europe alone were down 17%.
Sales by group brand Nissan Diesel drove growth in Asia and the Middle East. Volvo acquired Nissan Diesel last year. This month is the first time that sales by India’s Eicher trucks have been included in Volvo truck group figures, reported Reuters.
The European market is a major concern. Volvo had forecast ten percent growth in the market this year. “The slowdown in many European economies, in combination with high fuel prices, continues to affect truck demand adversely,” the company said.
In North America the market is expected to be flat. “Ongoing sluggishness in the U.S. economy as a whole, including the impact of tighter credit, as well as high fuel prices also continue to weigh on the market.”
Volvo’s five truck companies (Volvo, Renault Truck, Mack, Nissan Diesel and Eicher) sold 14,849 vehicles in August 2008.
Year-to-date group sales are 169,737 vehicles, up 25% on a year earlier.
