Investor Day in New York
At Tuesday’s Investor Day in New York, Volvo’s President and CEO Leif Johansson announced that the global recession had forced the Group to adapt all of its operations to today’s significantly weaker demand.“The Group’s order intake has dropped substantially in several markets. Demand in Europe has slowed abruptly and the US market has continued to decline from its already low level. Emerging markets in Eastern Europe and parts of Asia have also deteriorated rapidly, as has South America recently,” says Johansson.Johansson also announced that the decline in order intake for the company’s