"Demand weakened sharply in all markets during the first quarter. The economic climate was very difficult in the Group’s markets in Europe, North America and Asia. Adjusted for currency movements, sales fell by more than 40%, to SEK 56 billion in a historically weak quarter. However, I continue to be optimistic about the future possibilities for the Volvo Group ¬– we have the products that customers want, as evidenced by continued high market shares, and we are active in industries characterized by long-term growth."
                                                                                                  Leif Johansson, President and CEO

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