Bookings slump for Volvo

World number two truck maker Volvo's order bookings suffered a deeper-than-expected fall in the second quarter, hit by slumping demand in North America and Europe, but it stood by its outlook for its two top markets in the face growing uncertainty. Volvo said yesterday order bookings of its trucks fell 19 per cent year-on-year across all its markets. Operating earnings slipped to 7.34bn crowns (£678m) from 7.65bn a year ago.