Weaker buck may lure Volvo to raise NA production
STOCKHOLM, Sweden (Dec. 21, 2004) – Swedish truck maker Volvo AB may invest more heavily in the U.S. than in Sweden it announced recently.
Associated Press reports that Volvo AB CEO Leif Johansson told a Swedish business magazine that “if the dollar keeps weakening in the long run, this means that we will steer certain investments to North America.”
Volvo recently said it would move assemble truck engines to Hagerstown, Md.
The truckmaker reported higher third-quarter earnings and revenue and raised its forecast for truck sales for the full year in Europe and North America, with sales of trucks up to 240,000 from 230,000 in North America in 2004, with an expected 15 to 20 per cent rise expected for 2005.
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