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Global sales fell 7.4% on year in the quarter, with demand hit by continuing market challenges in the U.S. and China.

Sweden's ​Volvo Cars ‌said on Monday ​it ​will close its ⁠Stockholm ​office, where ​450 people currently work, ​relocating ​responsibilities to its ‌Gothenburg ⁠headquarters as part of ​an ​effort ⁠to cut ​costs ​and ⁠boost efficiency.

SHIPPENSBURG, Pa.--(BUSINESS WIRE)--Volvo CE announces expanded U.S. production, with over 50% of its North American machine supply able to be produced in Shippensburg, Pennsylvania.

Sales in the U.S. increased for the third consecutive month, rising by a double-digit percentage while European deliveries remained steady with moderate growth.

Caterpillar Inc. CAT and Volvo VLVLY are global leaders in the heavy machinery and construction equipment industry, offering a wide range of products, including trucks, excavators and industrial engines. Both companies are also investing heavily in electrification, automation and digital technologies to position themselves for the next phase of infrastructure and transportation growth.