Trucking industry: Cost inflation is
Photo: Claudio Bresciani/TT

Trucking industry: Cost inflation is gradually rising

The business situation is stable, but cost inflation is gradually rising, according to truck manufacturer AB Volvo. The company's shares initially rose slightly after the announcement, but by 1:30 p.m. had fallen 4 percent.

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"In Europe, demand and deliveries are at a good level in all business areas. In North America, demand remains strong with production gradually increasing," says CFO Mats Backman at a capital markets day, according to a press release.

“Cost inflation is gradually rising, while high utilization of customers' trucks and machines contributes to continued good service business,” he adds.

CEO Martin Lundstedt sees good growth prospects for the group:

“In a world characterized by geopolitical uncertainty, increased regionalization and rapid technological development, the demand for transportation and infrastructure solutions will continue to grow,” he says.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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