The VW unit said orders in Latin America rose 3 percent as deals in Brazil were delayed by a new government financing program. Scania, which has the best operating margin in the commercial-vehicles industry said yesterday that “Order bookings in Europe were relatively strong at the end of 2010, when many hauliers carried out replacement investments, the first-quarter was characterised by somewhat lower activity.” Scania’s orders in the first three months of 2011 rose 20 percent to 19,457 trucks and buses, while deliveries surged 60 percent to 19,065. Daimler will report its results tomorrow, April 29. Daimler AG, the world’s largest truck maker, is expanding factories in Mexico to make more Freightliner models.
Volvo announced last month that it was recalling 700 workers at its plant in New River Valley, Virginia, to boost production. March deliveries of trucks weighing more than 16 tons rose 58 percent in Europe to 23,340 vehicles, marking the strongest monthly demand for new vehicles in more than two years, the Brussels-based European Automobile Manufacturers’ Association said yesterday. and Renault trucks in Europe. Volvo AB also builds Mack Trucks in the U.S.
According to Volvo AB’s CEO, sales in Europe and North America are coming on very strong, and that the company is showing good pace in China, Brazil and India. Vehicle makers are adding capacity after slashing jobs and slowing production as the economic slowdown following the 2008 financial crisis sapped sales. The increase in purchases from freight companies prompted Volvo, the world’s second-largest truckmaker, to raise its industry forecast for heavy truck sales in North America and Europe. Scania, the Swedish truck maker controlled by Germany’s Volkswagen AG, said profit rose 77 percent to 2.51 billion kronor. Volvo’s net income more than doubled to 4.09 billion kronor, the Gothenburg, Sweden-based company announced yesterday.
Volvo AB and Scania AB are two of the biggest commercial-vehicle manufacturers in Europe, both companies reported a surge in first quarter profits as demand for heavy road trucks picks up.
EmoticonEmoticon