Swedish truck maker Volvo is cautiously optimistic that an upturn is underway in the ailing North American truck market and thinks that the downturn in Europe is less severe than feared, according to the Financial Times (FT). Volvo chief executive Leif Johansson told the FT: "We have seen an upturn in orders for both heavy trucks and construction equipment in North America in the last few weeks. It's a matter of a few percentage points."