Volvo raises sales projection in North America in 2017 after solid results on 2nd tri

STOCKHOLM-the Swedish manufacturer Volvo trucks has increased expectations for business in North America, after disclosing second-quarter results solid.
The company''s adjusted operating profit rose to 8.54 billion kronor (1.03 billion dollars) in the second quarter, surpassing the 6.13 billion kronor from the same range a year ago and the prediction of 8.48 billion SEK of analysts.
The orders of the group, which sells branded trucks Volvo and Mack too, Renault and UD Trucks, climbed 22% in the period, getting above the 12% increase expected by analysts.
Shares of Volvo, which competes with the German Daimler and Volkswagen, jumped almost 40% this year due to robust demand and better margins, after efforts to cut 10 billion SEK in costs.
Volvo still takes advantage of the European demand for heavy trucks, at historically high levels, and there are increasing signs of improvement in North America.
"Recent trends in the markets for trucks remain with good demand in Europe, including a distinct recovery in Russia and gradual improvement in the North and South," Volvo said in a statement.
Sweden''s largest company in terms of revenue still raised the prospect for sales in 2017 in the heavy truck market in North America to 225,000 units, compared to 215,000, and maintained robust sales projection of 300,000 trucks in Europe.
For Brazil, the Volvo left unchanged the forecast of selling 30000 trucks this year.