Truck maker Volvo hikes market outlook as Europe supply woes fade

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Sweden's AB Volvo lifted its outlook for key heavy-duty truck markets in Europe and North America this year on Thursday as it reported a 32% year-on-year rise in order intake for the first quarter.

"Disturbances in the European supply chains have not been as extensive as in the autumn and have contributed to increased productivity," Chief Executive Martin Lundstedt said in a statement, adding however that the supply chain remained unstable in North America, hampering production there.

"If one has to search for problems during the quarter, there are still supply chains in North America, but still the operating leverage was quite decent, so I would say we see improvement ahead," Engellau said.

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