Volvo’s Truck Unit Swings to First-Quarter Profit
Volvo AB said Friday its truck unit was profitable in the first quarter compared with a year ago, as North American sales rose 6%.
Truck unit operating income was 1.44 million Swedish kronor, or about $200,000, compared with a loss of about $334,000 a year ago, the Gothenberg, Sweden-based company said in a statement.
North American truck sales rose to 6,040 units from a year ago, the company said in a statement.
South American sales jumped 92%, while sales in Europe fell 18%. Overall, worldwide truck sales by declined 2%.
“Overall, truck demand continues to improve and order intake increased by 15% compared to the fourth quarter,” Chief Executive Officer Leif Johansson said in a statement.
Volvo said its other sectors including buses, construction equipment and customer finance, also swung to profitability in the quarter following losses a year ago.
Volvo AB is the parent company of Volvo Trucks North America and Mack Trucks. It also includes the Renault, Nissan Diesel and Eicher truck brands.
