Swedish truck maker Volvo (VOLVb.ST) forecast a steeper than expected slowdown in the North American heavy-duty truck market this year and said it would cut production there after posting a slightly smaller than predicted rise in fourth-quarter earnings. Volvo, a rival of German Daimler (DAIGn.DE) and Volkswagen’s (VOWG_p.DE) truck brands, is contending with falling demand for commercial vehicles in the United States and Brazil and a plunge in purchases of its construction equipment in China.