Volvo Group lost about a month of truck production in Q2 because of the semiconductor shortage. But it still posted solid results as orders and deliveries soared compared with the pandemic-impacted year-ago quarter.
Sweden-based Volvo (OTC: VLVLY) made no mention of a labor dispute at its Volvo Trucks North America unit that sacrificed five weeks of regular production during the quarter. The second strike ended last Friday, erasing two weeks of Q3 production.
The impact showed up in North...
Volvo Group (OTC: VLVLY) will partner with Aurora Innovation OpCo Inc. for hub-to-hub autonomous trucks in North America, aligning with the same startup working with rival PACCAR Inc. (NASDAQ: PCAR).
The Swedish truck maker is the last major manufacturer to pick a technology partner for autonomous operations. Volvo and Aurora quietly worked on a software system beginning in early 2018. They created a prototype truck late that year.
“Despite our early progress, our shared values and our common...
https://www.freightwaves.com/news/volvo-partners-with-aurora-for-hub-to-hub-autonomous-trucking
This week, we decode warnings about what stressed supply chains mean to truck makers; share some social commentary from Cummins and Wabash National; and look at a busy round of business tie-ups. You can get Truck Talk delivered via email by subscribing at https://www.freightwaves.com/truck-talk.
May the chain be unbroken
Messages from truck makers and major suppliers in their earnings reports this week suggest downtime and production delays impacting the light-vehicle industry may be closing in...
https://www.freightwaves.com/news/truck-talk-decoding-messages-on-stressed-supply-chains
From the depths of a pandemic-impacted second quarter, Sweden’s Volvo Group (OTC: VLVLY) finished 2020 with lower sales but a strong profit margin. New truck orders surged between the third and fourth quarters.
“We demonstrated that we have significantly improved our volume and cost flexibility, which were crucial factors behind our earnings resilience in 2020,” President and CEO Martin Lundstedt said.
Volvo revenues fell 22% — almost SEK 100 billion ($11.8 billion) — compared to a year earlier....
https://www.freightwaves.com/news/volvo-group-reports-lower-2020-sales-but-strong-profit-margins
Volvo Group (OTC: VLVLY) reported a 38% decrease in second-quarter sales as the COVID-19 pandemic racked its truck, bus and construction equipment units.
The Swedish parent company of Volvo Trucks North America and Mack Trucks said the temporary layoffs of 4,100 white-collar workers during the quarter are now permanent.
Net sales of SEK 73.2 billion ($8.1 billion) compared to SEK 120.7 billion ($13.3 billion) in the same period a year ago. Adjusted operating income was SEK 3,272 million ($361.6...
https://s29755.pcdn.co/news/volvo-reports-38-drop-in-q2-sales