Volvo sells loads more lorries

VOLVO, the world's second biggest truck maker, yesterday posted a 44 per cent year-on-year rise in shipments during May, as a recovery from the worst market downturn in decades gained traction.

While the percentage increase is big, the recovery is from extremely low levels caused by the global downturn.

Volvo – which sells trucks under the Renault, Mack and Eicher brands as well as its own name – said shipments rose 25 per cent in Europe from a year ago, while they climbed 35 per cent in North America.

In Asia, where the economic upturn has been firmer than on both sides of the Atlantic, and where Volvo has fortified its position through acquisitions in recent years, deliveries shot up 90 per cent, while shipments in South America rose 71 per cent.

The group has said it expected the heavy truck market to grow by about 10 per cent in Europe this year.