Volvo Trucks May shipments fell 9% year on year as lingering weakness in its two biggest markets – Europe and North America – offset a steady upturn in South America.
Including joint ventures, mainly Eicher in India, shipments were also down 9%, Volvo told Reuters.
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Volvo, which also sells Renault, Mack and UD Trucks brands, said deliveries in its biggest market, Europe, fell 16% and were off 10% in North America and 9% in Asia.
Government incentives have spurred demand in Brazil over the past couple of quarters and Volvo said its May shipments in the region were up 28%.
