Third quarter 2000
Volvo's sales in South America, Asia and Eastern Europe increased very sharply in the third quarter. Business in Western Europe continued to be strong, while the North American market decreased further. We are continuing to maintain a high pace of product renewal and during the third quarter we introduced a number of new products. Volvo Trucks' continued to report unsatisfying earnings, mainly caused by the sharp decline in the North American market. We are well prepared for further adjustments of the business and we are avoiding inventory build-ups.