Bloomberg reported that Volvo AB, the world’s second-largest truck maker, said second-quarter vehicle orders dropped 19% because of a weakening economic outlook in North America and southern Europe.
 
According to the report, sales contracts fell to 52,946 trucks from 65,006 vehicles a year earlier, according to a statement released by Volvo. The decline was led by drops of 47% in North America and 13% in Europe.

Bloomberg reported that Volvo, which makes Mack-brand trucks in the U.S., may cut production in response to falling demand, according to Chief Executive Officer Olof  Persson.

The report quotes Morten Imsgard, an analyst at Sydbank A/S in Aabenraa, Denmark saying, “Truck-fleet operators in North America have grown more cautious after a healthy start to the year. They’re stepping back and looking where the economy is going before deciding to invest in renewing fleets.”