- (PLX AI) - Volvo shares were down 2% at the open after issuing a cautious outlook for next year's truck demand in the most important markets.
- • Volvo sees China heavy-duty truck market at 970,000 trucks next year, down from 1,490,000 this year
- • Sees North America market 300,000 trucks next year, up from 270,000 this year
- • Sees Europe market 300,000 trucks next year, up from 280,000 this year
- • Volvo gave a cautious first take on 2022, SEB said
- • Truck orders in Q3 were 14% below consensus, with Volvo saying it had a large order book with long delivery times
- • We wouldn't be concerned about the lower order intake, Carnegie analysts said
- • While Volvo expects supply chain disruptions to linger, if the companty can deliver solid profitability it should be less of a concern for the market: Carnegie
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