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Volvo AB Cuts Production-Reuters


Wednesday, 19 Dec 2012 04:10am EST 

Reuters reported that Volvo AB is scaling back production in North America after tough economic conditions saw its truck shipments fall 15% in November 2012. The Company, which sells trucks under the Eicher, Mack, Renault and UD Trucks brands as well as its own name, announced that deliveries in its biggest market, Europe, fell 13% in November 2012 year-on-year and were down 27% in North America. The Company also announced that it was cutting production of Volvo-branded trucks in North America. North American deliveries for its Mack brand were also down sharply in November 2012, hit by fewer production days and concerns about the so-called "fiscal cliff" of automatic tax hikes and spending cuts in the United States. Shipments also fell 15% in Asia and decreased 12% in South America. 

Company Quote

11.305
0.045 +0.40%
10 Sep 2014