Staveley Head

Staveley Head

January 26, 2010 23:00 ET

HGV Insurance Specialist Reacts to Volvo Announcement

FLINT, UNITED KINGDOM--(Marketwire - Jan. 26, 2010) - Leading HGV insurance specialists Staveley Head have reacted to AB Volvo's latest financial results. The Swedish manufacturer has revealed third quarter net sales have fallen by 31% to 4.36bn. Despite this, operating loss has been significantly reduced when compared with the second quarter, as a result of cost cutting measures. This amounted to Pounds Sterling 295.1m, half of the second quarter figure. These announcements come in the wake of an announcement from General Motors that it will be closing down the operations of fellow Scandinavian manufacturer Saab.

It has been a tough year for the haulage industry, with the well documented rise in petrol costs, many businesses have struggled to make ends meet. This, together with difficult trading conditions and a drop in consumer spending has left many firms in difficulty. Clearly, investing in new HGVs is a low level priority at the moment, as a spokesperson for Staveley Head points out:

"The recession has affected HGV manufacturing in the same way it has affected the car industry, so this news comes as no surprise. With many haulage and logistics firms struggling for survival at the moment, investing in new vehicles is not a priority, which has seen demand for new HGVs fall."


"Volvo, like many other companies is being forced to make cut backs, however, with the economy showing signs of recovery the situation will hopefully improve somewhat in the new year.

Staveley Head are one of the UK's leading brokers of HGV insurance. Based in Flintshire, North Wales, they have over 15 years experience in the industry and have earned a reputation for providing quality, low-cost insurance cover for hauliers and logistics firms across the UK. Providing cover from a panel of leading insurers, including Zurich, Allianz and Royal means that the firm can offer the most appropriate cover for clients, at the most affordable prices. To find out more, visit

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