UPDATE 2-Truckmaker Volvo beats earnings forecast, sees U.S. market weaken
* Q2 adjusted op profit SEK 6.13 bln vs forecast 5.64 bln
* Cost cuts help boost profitability despite 7 pct sales fall
* Cuts N. American truck market outlook
* Shares rise 0.8 pct vs weaker sector (Adds analyst comment, share price)
By Niklas Pollard and Johannes Hellstrom
STOCKHOLM, July 19 (Reuters) - Swedish truckmaker Volvo reported better than expected second-quarter earnings on Tuesday as cost cuts and rising European sales helped fortify it against slumping U.S. demand for commercial vehicles.
Heavy-duty trucks, where Volvo is competing with Germany's Daimler and Volkswagen, are benefiting from strong demand across Europe while battling downturns across the Atlantic.
Volvo, which sells trucks under the Mack, Renault and UD brands as well as its own name, scaled back its outlook for North America, saying it expected industry wide sales of 240,000 trucks, down from a forecast for 250,000 given in April.
Weaker markets in the United States and also China, where sales of construction equipment are falling, will test the new leadership team's skill in boosting profitability. Continuación...