UPDATE 2-Truckmaker Volvo banks on European demand as U.S. and Brazil weaken
* Q1 core profit SEK 4.46 bln vs forecast 4.14 bln
* Q1 order intake -12 pct vs consensus -14 pct
* Raises 2016 European truck market forecast
* Cuts 2016 trucks outlook for N. America, Brazil (Adds Daimler, analyst, detail)
By Niklas Pollard
STOCKHOLM, April 22 (Reuters) - Volvo forecast stronger demand in Europe but the reverse in the United States and Brazil, as cost cuts helped the Swedish truckmaker post a lower than expected dip in first quarter core profit.
Heavy-duty trucks, where Volvo is competing with Germany's Daimler and Volkswagen, are riding strong demand across Europe and battling downturns across the Atlantic.
These simultaneous pressures are a test for a leaner Volvo, after years of cost cuts, as well as a new leadership team that cut its teeth at fierce rival Scania, which has long boasted some of the best margins in the business.
Sweden's biggest listed company by revenues said on Friday adjusted operating earnings fell to 4.46 billion crowns ($548 million) from a year-ago 4.60 billion, topping a mean forecast of 4.14 billion in Reuters poll of analysts. Continuación...