Bloomberg News

Volvo Sticking to Forecast of Shrinking Europe Market

January 12, 2012

(Company corrects European outlook in first paragraph.)

Jan. 12 (Bloomberg) -- Volvo AB is making no change in its outlook for the European truck market this year, Chief Financial Officer Anders Osberg said today at a press conference in Abu Dhabi.

The company’s sales in the Middle East are likely to rise 30 percent by 2015 in all the manufacturer’s product ranges, Osberg said.

Volvo said on Oct. 25 that the European heavy-truck market will shrink by 10 percent in 2012 from the 240,000 vehicles forecast for 2011.

--Editors: Tom Lavell, Chad Thomas

To contact the reporter on this story: Tamara Walid in Abu Dhabi at twalid@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net


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