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Volvo’s 1Q Profit Rises on Higher North American Truck Sales
Volvo AB reported a first-quarter profit, as its North American truck sales jumped.
Net income slipped to $597 million, from $609 million a year earlier, while sales rose 10% to $11.7 billion.
Volvo raised its forecast for Europe’s truck market by 4.5% to 230,000 trucks, from an earlier 220,000 forecast, Bloomberg reported.
The company reported a 46% surge in first-quarter North American deliveries, to 12,848 vehicles, Bloomberg said.
It reiterated its 250,000-truck market forecast for North America, a 16% gain from last year.
Volvo, the parent company of Mack Trucks and Volvo Trucks North America, is also the parent of Renault trucks in Europe.
