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Volvo truck sales collapse by half

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12:23 CEST+02:00
Swedish truck manufacturer Volvo Trucks has reported that sales of its vehicles collapsed by 54 percent in July.

The firm has reported sales of 8,899 vehicles in July 2009 in comparison to 19,243 in the corresponding period of 2008.

None of the firm's markets reported positive figures in the month.

"We continue to bounce along the bottom," press spokesperson Mårten Wikforss said.

The figures were forecast and Wikforss dwelled on the positives when he said that "it seems that the bottom of the market has been reached."

"As it looks now, the question is when the recovery will begin," he said.

The firm's sales in eastern Europe were the hardest hit with only 300 trucks sold in comparison with 2,412 in July 2008, a decline of 88 percent.

Western Europe declined by 59 percent to 2,712 vehicles, North America was down 46 percent to 1,113 while South America reported a decline of 53 percent to 794 vehicles.

In Asian markets the decline amounted to 42 percent with 2,787 vehicles sold and other markets fell 31 percent to 1,193.

Divided into vehicle categories 45 percent fewer light trucks were sold, 22 percent fewer medium-sized trucks and 61 percent fewer heavy trucks.

The total decline for 2009 to date now comes to 54 percent with 70,795 trucks sold in comparison with 154,888 in July 2008.

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