The company, which makes trucks under the Renault, Mack and UD brands as well as its own name, said order intake of its trucks fell 10 percent year-on-year in the first quarter, just lagging the 7 percent decline seen by analysts.
The fall in order intake was mainly due to the short-term slump following the introduction of the European emission rules at the turn of the year and Volvo said it expected demand to pick up through the course of the year.
But 2014 is also the year in which Volvo must show evidence its sweeping efficiency measures are feeding through to the bottom line, with growing pressure from the likes of activist fund Cevian, its second biggest owner by votes, to deliver.
The company said first-quarter operating earnings excluding restructuring charges rose to 2.59 billion Swedish crowns from a year-ago 496 million, roughly on par with a mean forecast 2.52 billion in a Reuters poll of analysts.
Volvo, whose profitability has traditionally lagged rivals such as Scania, racked up an operating margin of 3.9 percent, right in line with analyst forecasts but still a far cry from the 10.7 percent report by its smaller Swedish rival.
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