STOCKHOLM: Sweden's AB Volvo raised its market forecasts for North America and Europe on Thursday , as higher trucks and construction equipment deliveries helped it to top profit estimates.
Volvo indicated it now expected truck demand in Europe this year to be flat, compared with its previous forecast of down 6 per cent, while North America would be up 5 per cent instead of flat. Lundstedt, however, ruled out launching a new large-scale cost savings programme, telling analysts:"My firm conviction is this type of big programme is a story of yesterday."