Volvo halts sales of heavy semi trucks in Mexico
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.
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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.