Weak Dollar May Lure Volvo to Increase North American Production
The Associated Press reported Monday that Swedish truck maker Volvo AB may invest more heavily in the U.S. than in Sweden
The Associated Press reported Monday that Swedish truck maker Volvo AB may invest more heavily in the U.S. than in Sweden.
The news service said Volvo AB CEO Leif Johansson told a Swedish business magazine, that "if the dollar keeps weakening in the long run, this means that we will steer certain investments to North America."
Volvo recently said it would move assemble truck engines to Hagerstown, Md.
Volvo reported higher third-quarter earnings and revenue and raised its forecast for truck sales for the full year in Europe and North America, with sales of trucks up to 240,000 from 230,000 in North America in 2004, with an expected 15% to 20% rise expected for 2005.
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