Volvo AB Global Truck Sales up 2% in January image

Swedish truck maker Volvo AB Wednesday said it delivered a total of 15,647 vehicles in January, an increase of 2% compared with the year-earlier period.

“Demand for trucks in Europe declined during the autumn, but seemed to stabilize on a somewhat lower level towards the end of the year,” Chief Executive Olof Persson said in a statement.

Volvo, the world’s second-largest truck maker after Daimler AG said deliveries in Europe increased 4% to 6,234 vehicles from 6,006 the same period last year, but in Western Europe deliveries declined by 1% (Eastern Europe +31%).

The company has reduced production rates in both Europe and Brazil to match weaker demand. Production in Japan, India and North America remains at about the same levels as at the end of 2011, Volvo said.

Deliveries in North America were up 22 percent to 3,144 vehicles from 2,587 vehicles, South America declined 16% to 1,183 vehicles from 1,414, while Truck deliveries in Asia declined 7% to 4,055 vehicles from 4,357 vehicles.

The company said Mack unit delivered 1,593 vehicles in January, up 25% compared with year-earlier period. Though there are signs of improvement in the energy sector, the overall vocational truck segment remains weak, and Mack said it has compensated with a strong focus on sales of its Pinnacle highway models.