Volvo truck shipments rise as trade market recovers

WORLD number two truckmaker Volvo said shipments surged 62 per cent to 15,277 units in January, as a recovery in commercial vehicles markets carried into the New Year.

The highly cyclical heavy-duty truck market has picked up strongly in recent quarters with growth spreading out of emerging markets to mature markets on both sides of the Atlantic.

Volvo said unit shipments rose 78 per cent in Europe, its biggest market, while they were up 83 per cent in North America.

In Asia, further down the road to recovery than markets on either side of the north Atlantic, deliveries rose 51 per cent.

The group, second globally to German group Daimler, earlier this month raised its demand outlook, saying it expected markets to grow to about 220,000 units in both Europe and North America, implying double-digit growth.