Volvo Takes 4Q Loss on Lower Demand
Volvo AB lost $165 million in the fourth quarter, and said it will adapt to lower demand as global truck orders slide, Bloomberg reported.
The loss compares with a profit of $508.7 million, and analysts had estimated a profit of $108 million, Bloomberg reported.
Sales at Volvo, which also makes construction equipment, fell 9% to $9.65 billion. Gothenburg, Sweden-based Volvo reports its earnings in Swedish krona.
Volvo AB is the parent company of U.S.-based Mack Trucks and Volvo Trucks North America.
