Volvo raises European truck forecast as orders surge

Volvo Group reported a 14 percent rise in global truck orders today while lifting its annual European market outlook. Adjusted earnings beat analyst expectations.

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Volvo Group reported a significant surge in truck orders for the first quarter, propelled by revitalized demand across major global markets. The Swedish manufacturer highlighted a particularly strong recovery in the United States, where order intake for North American heavy trucks jumped by 78% following a period of market stagnation.

A row of Volvo commercial vehicles parked at a dealership in Linden, New Jersey, photographed in May 2022. REUTERS/Andrew Kelly
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