Volvo AB said Tuesday it lost $725 million, or 36 cents a share, more than analysts’ estimates, and said it was facing a “difficult” third quarter in light of lower truck sales, Bloomberg reported.
The loss compared with profit of $670 million, or 33 cents, a year ago. Sales in the period dropped 33 percent to $7.1 billion.
The truck division reported an operating loss of $625 million, compared with an operating profit of $632 million a year ago. Revenue fell 36% to $4.4 billion.
Sweden-based Volvo reports its earnings in Swedish kronor and is the parent company of U.S.-based Mack Trucks and Volvo Trucks North America.
VTNA said Monday its first 2010 model trucks rolled off its assembly line at a Virginia plant earlier this month.
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