Volvo and MAN have unveiled forecast-beating quarterly earnings. Both truck makers also expressed confidence in their European home market despite the economic problems in the US. Indeed, European firms 's heavy-duty truck producers are having trouble keeping up with demand and their order books are bulging.
Volvo reported a 22% rise in operating profit to 700 million euros. Its smaller German rival MAN, saw a 43% rise to 455 million euros. Volvo's improved figures came despite its exposure to the weak US market. MAN does not sell in the United States.
New transport routes and changes in warehousing in continental Europe, as well as massive infrastructure investments further east, have fuelled robust demand for heavy-duty trucks in the region over the past couple of years.
Swedish truck maker Scania, which shares major shareholder Volkswagen with MAN, is due to report its first-quarter figures on Monday.
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