Order intake on heavy trucks declines in North America - 70 percent on an annual basis

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Dagens Industri  /  June 5, 2019

According to preliminary figure, order intake for heavy trucks in North America amounted to 10,800 units in May. This is a decline of 27 per cent compared with April and a full 70 per cent on an annual basis.

The figure indicates the "worst net feed development since July 2016 for heavy trucks". A weak freight market and continued high order backlogs are behind the weak order intake.

As recently as Tuesday , RBC Capital flagged that both the European and the North American market for heavy trucks will probably fall this year in connection with the Canadian bank launching the monitoring of Volvo with the recommendation sector perform.

In connection with this year's first quarterly report, which was released at the end of April, Volvo reported a substantial decrease in the North American order intake, minus 77 per cent. However, CEO Martin Lundstedt toned down the figure.

"The order intake in relation to deliveries was extremely positive for a long time and as we have communicated earlier, we continuously look over the quality of our order book in North America to ensure that we are not on poor orders," he said to Di.