Profit surge for Volvo trucks

Swedish truck maker Volvo has posted a 19 percent increase in second quarter earnings citing solid sales in Europe.

Volvo, which sold its passenger car division to Ford Motor Company in 1999, income for the period increased to 4.6 billion kronor for the period, up from 3.9 billion kronor during the same period in 2005.

The company also reported net sales increased 7 percent to 65.5 billion kronor, up from 61.1 billion kronor last year at this time.

“The new forecasts are for a market of 280,000 to 290,000 trucks in Europe and 330,000 to 340,000 trucks in North America,” said Chief Executive Leif Johansson.”