The Volvo Group reported a third quarter operating loss, excluding restructuring costs, of SEK 212 million ($19.98 million), compared with an operating income of SEK 691 million for third quarter 2000.

Net sales for the quarter were SEK 41.13 billion, up approximately 47% from the same period last year.
With the combined truck operations of Mack, Renault and Volvo, Volvo Global Trucks’ net sales were SEK 26.35 million, about double Volvo’s truck sales in the third quarter of 2000. Global Trucks had an operating loss of SEK 340 million ($32 million), compared to an SEK 53 million operating profit last year. The company blamed the negative operating income on the continued downturn in the North American truck market and excess capacity.
Volvo executives said at a press conference that they thought the North American heavy truck market had hit bottom, but there are still no signs of recovery.