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Volvo Buses turns loss to profit

Volvo Buses turns loss to profit Volvo Buses turns loss to profit
Volvo Buses made a profit of SEK145million (£13million) in the first quarter of 2010, compared to a SEK95million (£8.5million) loss in the same period last year.

The company reports a strong increase in sales, but warns that demand remains weak in certain markets – in particular Europe and North America.

The city bus markets in North America and Europe are particularly depressed.

During the first quarter, 2,552 buses were delivered, an increase of 44 per cent over the 1,770 buses delivered in the first quarter of 2009. But the order intake fell by 15 per cent to 2,033 vehicles, compared with 2,394 in the same period last year. The decline is mainly attributable to Europe and to coaches in North America.

www.volvo.com