Volvo truck shipments fall 37% in November

World number two truck maker Volvo said on Tuesday its truck shipments fell 37 percent year-on-year in November as its main markets remained in the clutches of a deep downturn.

The decline represented a decline of 7 percent compared to October, the company said in a statement.

Volvo, which sells trucks under the Renault, Nissan Diesel, Mack and Eicher brands as well as its own name, said deliveries were down 45 percent in Europe, its biggest market, while they fell 35 percent in North America.

In Asia, shipments of the Swedish group's heavy-duty trucks fell 33 percent from a year ago.