Volvo Construction Equipment have
revealed that they have seen a sharp drop in the third quarter of 2008.
The company revealed that their third quarter revenue had just topped
£1 billion but profit has fallen to £10.8 million from £67.5 million in
the same period last year. Volvo have stated that this drop in profits is largely due to increased steel prices and a £24m cost of moving the motor grader business
from the US to Canada. Volvo have stated that they expect the European market to end the year 15% to 20% down on 2007.
In
better news Volvo have stated that the South American market has
increased 58% and various other international markets have grown 43%. | 
