Volvo posts fourth-quarter loss
Swedish auto giant Volvo AB posted an operating loss of SEK 2.26 billion in the fourth quarter of 2014, compared with a profit of SEK 996 million the year before, the company said in a statement Thursday.
Volvo saw a plunge in construction-equipment deliveries, which fell by 33 percent. However, deliveries of trucks rose by 16 percent.
Volvo had previously announced cuts of around SEK 10 billion up until December this year.
Based in Gothenburg, western Sweden, Volvo is the world's second-largest truck-maker.