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Saturday, October 25, 2008

Volvo truck sales plunge 99.7% ...

Ouch, and WOW! ;-( (ht: Calculated Risk)

Volvo truck sales plunge from 41,970 to just 115 - a 99.7% fall - This is Money: "The depth of the recession was revealed today as truckmaker Volvo admitted demand across the Continent has crashed by 99.7% as it took orders for just 115 new lorries in the last three months. That compares to orders totalling 41,970 in the third quarter of 2007. Global orders for Volvo slumped 55% in the last three months while Scania, of which Volvo has majority control, said its western Europe truck orders collapsed by 69%. Volvo, which also makes trucks under the Renault and Mack brands, reported a 37% plunge in third-quarter earnings to £230m. "

And from Bloomberg.

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