COMMENT: Volvo hints at US truck market slowdown

Acting Volvo Chief Executive Jan Gurander has sounded the clearest warning yet of a US truck market that is running out of steam. While revenues for the second quarter rose by 17% – although when adjusted for both currency and restructuring this figure reduces to 4% – truck order intake fell back by 6% measured on a year-on-year basis, leading Gurander to comment accordingly: “We are seeing a gradual recovery in Europe and unchanged demand in Asia, apart from the lower level of demand in China. In North America there is a slowdown from high levels while there is a strong decline in the Brazilian market.”