Volvo braces for US slowdown as profit lags slightly

Stockholm

GLOBAL truck maker Volvo forecast a steeper slowdown in the North American heavy-duty truck market this year and said it would cut production there after posting a slightly smaller than expected rise in fourth quarter earnings.

Volvo, a rival of German Daimler and Volkswagen's truck brands, is contending with falling demand for commercial vehicles in the United States and Brazil and a steep plunge in purchases of its construction equipment in China.