Volvo halts sales of heavy semi trucks in Mexico1 min read . Updated: 08 Dec 2020, 10:53 AM IST
Wholesale sales of Volvo's heavy trucks in Mexico plummeted 46.2% during the first 10 months of this year.
Swedish auto manufacturer Volvo is discontinuing its sale of Class 8 heavy-duty semi trucks in Mexico, local unit Volvo Trucks Mexico said in a statement on Monday, citing fallout from the coronavirus pandemic and changes in the transport industry.
Wholesale sales of heavy trucks in Mexico plummeted 46.2% during the first 10 months of this year, according to national statistics agency INEGI.
Alejandro Gonzalez, a communications official with Volvo Group Mexico, told Reuters that the discontinuation of sales applies only to Volvo's three models of Class 8 trucks, which have three or more axels and are imported from the United States.
"The business units of Volvo Group Mexico will maintain their operations as normal: Volvo Buses, Volvo Financial Services, Volvo Construction Equipment and, now also, Mack Trucks," said Gonzalez.
Volvo Trucks' market share of freight and cargo vehicles in Mexico was 1.3% through October of this year, INEGI data showed, with the majority of the market dominated by Paccar Inc's Kenworth, Daimler Trucks North America's Freightliner and Navistar International.
This story has been published from a wire agency feed without modifications to the text.