Volvo Trucks North America said Monday it has discontinued the sale of Class 8 trucks in Mexico, citing the economic disruption caused by the COVID-19 pandemic.
“The global business scenario has changed significantly. In that context, Volvo Trucks has conducted a deep analysis of its business strategy and decided to discontinue sales of its full tract truck portfolio in Mexico,” Volvo Trucks de México said on its Facebook page. “We will continue with maintenance and distribution through our network of Volvo dealerships stronger than ever. Our sister brand, Mack Trucks, will keep selling its current product portfolio.”
The discontinuation of sales applies only to Volvo’s three models of Class 8 trucks, which have three or more axles and are imported from the United States, Alejandro Gonzalez, a spokesman for Volvo Trucks de México, told Reuters.
Volvo Trucks Corp. (OTCMKTS: VLVLY) is a global truck manufacturer based in Gothenburg, Sweden, and owned by AB Volvo. Mack Trucks Inc. is part of Volvo.
Volvo Trucks’ wholesale sales plummeted 46% during the first 10 months of 2020, according to Mexico’s National Institute of Statistics and Geography.
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