Aftermarket

Volvo Sees Strong 2Q Results on Truck Demand

July 22, 2010

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The Volvo Group posted strong second quarter figures on increased truck sales and an improving market environment.
The company reported a net income of $430 million, up from a loss of $757.6 million in the year-ago quarter.

Net sales were up 27 percent to about $9.4 billion, compared to about $7.3 billion in the 2009 quarter.

New truck orders were up 82 percent from the year-ago period to 48,418 units worldwide, compared to 26,624 units. Truck sales were up 24 percent to 41,589 units from 33,527 units a year earlier.

"In North America, we continue to receive very good response from customers to the Group's trucks that are equipped with engines that fulfill the new emissions requirements, EPA 2010, that were implemented at the beginning of the year," said Volvo CEO Leif Johansson. "The trucks are a significant step forward for the environment, with nearly zero emissions of nitrogen oxides and particulates, while reducing fuel consumption by up to 5 percent. To date, we have received orders for more than 10,000 of the new trucks."

The company also made the decision to start production of the group's new medium-duty engine range in India.

"The investment will provide the Group with cost-efficient medium-sized engines for the Asian market as well as sophisticated engines that fulfill tough emission regulations like Euro VI," Johansson said.

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