Volvo Trucks Post Earnings Jump
Volvo trucks posted an unexpected 23 percent jump in first-quarter earnings Tuesday.
The world’s second largest truck maker reported pretax profits for the quarter of 725 million dollars. The increase is attributed to customers stocking up ahead of new EU and American engine emissions rules.
Volvo says demand for its trucks, buses, marine engines and construction equipment strengthened in Europe and remained firm in North America, but noted that the effect of the new environmental rules will taper off.