STOCKHOLM, May 21 (Reuters) - World number two truck maker Volvo said on Wednesday deliveries of its trucks fell one percent year-on-year in April, well below market expectations.
The mean forecast in a Reuters poll of analysts was for shipments at the maker of Volvo, Mack, UD Trucks and Renault trucks to rise 4 percent.
Deliveries in Volvo’s top market, Europe, took a toll, dipping 8 percent while they slid 29 percent in South America. In North America and Asia, deliveries rose 14 percent, respectively.
Volvo said it would moderately increase production in North America at the end of the second quarter to meet increased demand. (Reporting by Stockholm newsroom)