Volvo Reports Record 1Q Sales Thanks to North America

April 26, 2012

Volvo AB reported record first-quarter sales for 2012, boosted by North American numbers for the strongest numbers recorded in this period despite a 2% drop in profits in the first quarter.

In North America, Volvo delivered 12,800 heavy duty trucks in the first quarter, on received orders of 13,800



In North America, Volvo delivered 12,800 heavy-duty trucks in the first quarter, on received orders of 13,800.

Sales performance caused the company's share price spiked 5% to $13.97 in early market trading on the Stockholm stock exchange.

Volvo reported a net profit of $595 million for 1Q 2012, down slightly from the same period a year earlier. Costs, especially those associated with research and development, brought the bottom-line figure down compared with last year.

However, revenues jumped 10% to $11.7 billion, the highest the company has ever recorded during a first quarter.