Volvo CEO-Europe orders still twice normal amount
July 23rd, 2008 | by admin |STOCKHOLM, July 23 (Reuters) - World number two truck makerVolvo’s VOLVB.ST top executive said on Wednesday truck orderbooks in Europe were still twice as long as normal, despite aslowdown in order intake in the region in the second quarter.
“We still have twice as long order books as we normallyhave,” Volvo Chief Executive Leif Johansson told a newsconference.
“The best picture (of European order intake) is actually totake the 22,000 orders and compare that with 25,000 or 28,000 in2005 and 2006 and the extraordinary number of almost 48,000 in2007. That’s the comparison.”
Johansson was speaking after Volvo, in its second-quarterearnings report, said order intake in Europe fell and customersthere were increasingly hesitant against a backdrop of growingeconomic uncertainty.
He added Volvo was adjusting production to reflect shifts indemand and intended to avoid building up inventories.
(Reporting by Stockholm Newsroom)
