Truckmaker Volvo says demand is good in Europe, strong in North America

Truckmaker Volvo Group said on Wednesday customer demand and deliveries in Europe are stable at good levels across the business in the second quarter while in North America, demand remains strong with production gradually increasing.

• Cost inflation is trending upward, while at the same time, high utilisation of customers' trucks and machines supports service activity, the Swedish group said ahead of presentations to investors.

• It predicted its Trucks and Volvo Construction Equipment units would outperform historical growth rates. It did not specify a timeframe.

• Self-driving trucks unit Autonomous Solutions aims to have driverless on-highway operations by the first quarter of 2027, and to approach around $3 billion in sales within five years, supporting group profitability.

• Engine and power systems unit Volvo Penta plans to double sales in the coming years.

• Volvo Group is one of the world's largest makers of trucks, buses and construction equipment.

• Share price unchanged by 0753 GMT vs Tuesday closing