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Volvo AB reported a fourth-quarter loss Friday but predicted that economic recovery will expand the market for its trucks, Bloomberg reported.
The Swedish truck maker lost 2 billion kronor ($268 million), or 0.99 kronor (13 cents) per share on costs from job cutting and a continued slump in demand, Bloomberg said.
The loss is larger than the 1.36 billion-kronor ($182 million), or 0.67 kronor (9 cents) per share the previous year.
Volvo predicted that the North American market for heavy trucks will grow 20% to 30% in 2010 from the 115,000 North American trucks it sold last year. It estimates the European market to expand 10% in 2010, compared with the 164,000 units sold last year.
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