STOCKHOLM, April 25 World number two truck maker
Volvo posted a much sharper than expected fall in
first-quarter earnings on Thursday as weak demand pushed sales
volumes to their lowest level since the height of the 2008/2009
The Swedish company said operating earnings tumbled to 482
million crowns ($72.7 million) from a year-ago 6.24 billion to
come in well below a mean forecast of 2.02 billion seen in a
Reuters poll of analysts.
Volvo, the dominant global player in the industry alongside
Germany's Daimler, said however that it had seen
improving demand in several key markets and posted a surprise
rise in the order intake in the quarter.
($1 = 6.6300 Swedish crowns)
(Reporting by Niklas Pollard and Helena Soderpalm)