Swedish corporation Volvo, which is the world's second largest truck manufacturer announced a decrease in demand for its products in Europe in the second quarter by 6%. At the same time, sales in North America and Japan remain high.
According to the report corporation income in the second quarter has increased by 23% to $ 362 million. Corporation which, besides a Volvo truck also manufactures products under the brands Renault and Mack, kept its forecast for product sales in all major markets except Russia, where demand suffers due to political factors.
We maintain our positive outlook on companies’ shares and recommend including them into long-term portfolio with the prospect of increase by 20% for the year.