Volvo truck shipments fell 54% year on year last month with one analyst saying he saw no signs of an upturn.
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The firm, which sells trucks under Renault, Nissan Diesel and Mack brands as well as Volvo, said in a statement on Thursday deliveries fell 66% in Europe, its biggest market, and 46% in North America. Asia deliveries were down 42%.
“Europe remains weak, but there is no real shift from the recent trend. North America may be slightly weaker than expected, but only marginally so,” an analyst, who asked not to be identified, told Reuters.
The fall in Volvo’s July orders was exactly in line with the aggregate decline for the first seven months of the year. The company has said it expects the European truck market to be cut in half or worse this year, while the North American market is seen down between 30 and 40%.
“The figures continue to be weak, though I don’t believe they are any weaker than expected,” another analyst told the news agency. “The figures have fallen over the past year and we still don’t see any signs of an upturn.”
