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Volvo Cuts North American Market Outlook as Orders Slump

  • Truck orders in North America fell 29% in second quarter
  • Volvo boosts core truckmaking margin to 10% of sales

Volvo AB cut its outlook for the North American truck market for the third time this year after stagnant freight volumes and excess inventory drove orders in the region down by nearly one-third in the second quarter.

Truck orders in North America fell 29 percent, and manufacturers as a whole will probably sell about 240,000 vehicles there this year, the Gothenburg, Sweden-based company said Tuesday in a statement. That’s 10,000 less than its previous forecast and would be 20 percent fewer than in 2015.