Volvo Beats Earnings Forecast, Sees US Market Weaken
July 20, 2016
Swedish truckmaker Volvo reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.
Heavy-duty trucks, where Volvo is competing with Germany’s Daimler and Volkswagen, are benefiting from strong demand across Europe while battling downturns across the Atlantic.