The world’s second largest heavy truck maker also posted a smaller-than-expected rise in pretax earnings, but remains confident about demand in Europe and a recovery in the American market.
Volvo also says its results have been boosted by a strong performance in Asia following its acquisition of Nissan Diesel.
While the Volvo car division is now owned by Ford, truck making remains an independent company based in Sweden.
In other business news, stock exchange owner OMX, the target of takeover bids, has posted a 34 percent increase in its third quarter operating profit. But there was nothing in the report about the progress of the nearly 5 billion dollar bid from Nasdaq and Borse Dubai.