Volvo truck shipments slide 9 pct yr/yr in May
STOCKHOLM, June 17
STOCKHOLM, June 17 (Reuters) - World number two truck maker Volvo said on Monday shipments of its trucks fell 9 percent year-on-year in May as lingering weakness in its two biggest markets - Europe and North America - eclipsed a steady upturn in South America.
Including joint ventures, mainly India's Eicher, shipments were also down 9 percent, Volvo said in a statement.
Volvo, which sells trucks under the Renault, Mack and UD Trucks brands as well as its own name, said deliveries in its biggest market, Europe, fell 16 percent while they decreased 10 percent in North America and 9 percent in Asia.
Brazilian government incentives have spurred demand in South America's biggest economy over the past couple of quarters and Volvo said its shipments in the region were up 28 percent compared to May last year. (Reporting by Niklas Pollard)