Friday, 11 May 2007

Volvo Q1 pretax tops forecasts, ups Europe outlook

(Reuters) - STOCKHOLM, May 11 - Sweden's Volvo from 5.47 billion a year ago to come in well above the average forecast of 4.66 billion in a Reuters poll of 13 analysts. Following years of strong demand Volvo and its peers are experiencing a sharp fall in demand for heavy-duty trucks in the United States -- a hangover from a buying spree ahead of new tougher clean-air rules enforced at the turn of the year. "Despite the difficulties in the U.S., Trucks improved its profitability and reported a strong margin of 9.5 percent, the highest margin so far for the truck operation," the firm said.


Read more at Reuters.com Market News

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