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Top related persons:
Andrew Kelly - 1 Martin Lundstedt - 1 Lundstedt - 1 Hampus Engellau - 1 Marie Mannes - 1 Marta Frąckowiak - 1 Anna Ringstrom - 1 Jason Neely - 1
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Linden , New Jersey U.S STOCKHOLM Swedish American Gothenburg Russia North America
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Volvo - 1 REUTERS - 1 LSEG - 1 Thomson - 1

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☆ Volvo braces for slower truck markets next year after Q3 profit beat
  + stars: | 2023-10-18 | by ( ) www.reuters.com   time to read: +2 min
The Volvo logo is seen in truck for sale in Linden, New Jersey, U.S., May 23, 2022. Its adjusted operating profit margin widened to 14.4% from 10.3% as price hikes made up for higher costs. The company predicted the European and North American heavy truck markets would total 290,000 vehicles each in 2024. "We expect our major truck markets to continue to be strong throughout this year as we continue to deliver from our large order books to customers, but (we) forecast lower market levels for next year," Lundstedt said. Reporting by Marie Mannes and Marta Frąckowiak; editing by Anna Ringstrom and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.
Persons: Andrew Kelly, Martin Lundstedt, Lundstedt, Hampus Engellau, Marie Mannes, Marta Frąckowiak, Anna Ringstrom, Jason Neely Organizations: Volvo, REUTERS, LSEG, Thomson Locations: Linden , New Jersey, U.S, STOCKHOLM, Swedish, American, Gothenburg, Russia, North America, Europe
☆ Truck maker Volvo hikes market outlook as Europe supply woes fade
  + stars: | 2023-04-20 | by ( Marie Mannes | Thomson Reuters | Stockholm-Based Company News Correspondent Who Mainly Covers Anything To Do With Retail | ) www.reuters.com   time to read: +2 min
Volvo, a rival of manufacturers such as Daimler Trucks (DTGGe.DE) and Traton (8TRA.DE), forecast 2023 heavy truck sales in Europe and North America of 320,000 for each region. Handelsbanken analyst Hampus Engellau said the raised truck outlook sent a strong message that Volvo sees the second-half of 2023 as a good market for its trucks. Gothenburg-based Volvo, which also makes construction equipment and engines, said there was pent-up demand to replace aging fleets which had helped boost order intake. Shares in Volvo, one of Sweden's biggest employers, rose 1.2% in morning trade in a flat broader market (.OMXSPI). Volvo is not the only automaker to have had a good quarter.
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