Friday, October 24, 2008

Volvo's Slowing Demand

From Bloomberg News: Volvo Cuts Truck Market Outlook After Demand Slumps

Kind of a random post for this blog but these numbers are just insane...
The Gothenburg, Sweden-based company won just 115 European orders in the third quarter, down from 41,970 a year earlier
...
Volvo has cut production at two European factories and is eliminating 1,400 jobs at its truck division in response to slowing demand.

That's a 99.73% drop folks (and this number is likely to go up as cancellations line up) - Not sure I would refer to this as "slowing demand" at this point...

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