vehicles has declined 15 percent in 2008.
Recently published results showed a sharp 15 percent drop in
orders in the company’s CV business area in the
first 9 months of 2008, which were attributed to a poorer economic
outlook, increased fuel costs and fewer financing opportunities for
customers.
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Separate figures for the 3Q results were even bigger compared to
the previous year, with an order intake down 39 percent to €1,914
million compared to 2007. Orders for trucks and buses fell by 41
percent and 31 percent respectively.
Despite that, the company has increased its net sales by 15
percent for Q3, and by 18 percent in the first nine months of 2008,
totalling €11bn. Operating profit also improved by 26 percent
year-on-year.
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By GlobalData
