Volvo Trucks has said that deliveries in February declined to 4,512 units, a drop of 49% on the same month last year.
The company said that lower demand is now affecting all markets with the exception of Africa, where the deliveries still were higher in comparison to last year.
Go deeper with GlobalData
Volvo also pointed out that higher North American deliveries in February was due to a relatively low number of deliveries in February 2008 because of a strike in the New River Valley factory.
European deliveries in February were down by 68%, mainly because of a big decrease in deliveries in Eastern Europe, where the decline was 90%.
The current focus, the company said, is on maintaining good customer relationships, taking care of the aftermarket business and on safeguarding cash flow.
Volvo has already cut capacity and jobs to adjust to a rapid and sharp downturn impacting the road freight industry in Europe.
Some analysts believe the European heavy truck market could contract by 50% in 2009.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
