Truck and bus manufacturer Volvo managed to keep its revenue stable in the fourth quarter on an annual basis, despite difficult conditions in important markets. This was partly thanks to a boost in Brazil, where the demand for trucks unexpectedly increased.
In the fourth quarter, Volvo revenues remained virtually unchanged at 105 billion Swedish krona, equivalent to almost 10 billion euros. 6.8 billion crowns remained below the line.
Volvo delivered fewer trucks in Europe during the reporting period. The truck builder in North America is also scaling back production. The demand in those markets is declining, among other things because customers have modernized and expanded their truck fleet in recent years. All in all, Volvo saw its order book shrink last quarter.
This year, Volvo expects to deliver 275,000 heavy-duty trucks in Europe and 240,000 in North America.