Volvo’s Truck Division Posts Higher 3Q Results
The division’s worldwide operating income climbed 16% from a year ago to 2.19 billion kronor (about $302 million), excluding restructuring charges, the Gothenburg, Sweden-based truck maker said in its report.
Net sales rose 4% to 45.06 billion kronor (about $6.2 billion).
Quarterly truck deliveries slipped 5% to 45,939 worldwide, but climbed 26% to 13,972 in North America.
Total net truck order intake, however, increased 14% to 50,449, including a 73% jump in North America, to 17,772.
“Our North American truck operations reported a considerable earnings improvement with increased markets shares for both the Volvo and Mack brand,” CEO Olof Persson said in the report.
North American orders for Volvo brand trucks soared 80% from a year earlier to 9,412, while orders for Mack trucks jumped 66% to 8,258, the company said.
“Customer confidence in the U.S. economy continued to grow, as did freight demand and construction activity,” Volvo said.
As a result, the company boosted its full-year 2014 forecast for the North American market to 270,000 new heavy-duty truck registrations, up from a previous outlook of 260,000.
Volvo also said it expects the market to continue growing in 2015, to about 280,000 trucks.
