Volvo Raises Europe Truck Market Forecast After Orders Jump

Volvo AB lifted its outlook for the European truck market after orders increased, with business activity also improving in the Americas.

Global order intake jumped 14% in the first quarter, the Swedish manufacturer said Friday. It now sees Europe’s heavy-duty truck market at 310,000 units this year, from 305,000 previously. Volvo also increased forecasts for India and Brazil, and cited growth in the global construction market.