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Volvo’s October Truck Sales Decline on Slow Demand
Volvo AB said its worldwide truck sales fell 12% in October as demand in the U.S. and Europe slumped, Bloomberg reported Tuesday.
Total sales were 22,136 units, Volvo said. Sales of Volvo brand trucks fell 5% to 9,410 units, while Mack Truck sales fell 30%. Renault brand truck sales fell by 26%.
Volvo said its European sales suffered from order cancellations, while U.S. truck sales were hurt by the continuing credit crunch, Bloomberg reported.