World number two truck maker Volvo said on Wednesday shipments of its trucks fell 26 percent year-on-year in February as weakness in Europe and North America offset stronger demand in Latin America.
Volvo, which sells trucks under the Renault, Mack, UD Trucks and Eicher brands as well as its own name, said deliveries in its biggest market, Europe, were down 19 percent while they tumbled 46 percent in North America.
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Shipments were down 24 percent in Asia but rose 10 percent in South America, where government incentives in Brazil, the region's biggest economy, has fuelled a surge in demand in recent months.
(Niklas.Pollard@thomsonreuters.com; +46 70721 1110; Reuters Messaging: firstname.lastname@example.org)