Volvo CE confident of sustained US recovery

Volvo Construction Equipment (Volvo CE) president and chief executive Pat Olney said demand for construction equipment in North America could jump by a quarter in 2012, after revealing the company posted a 111% increase in like-for-like first quarter year sales. Olney said Volvo CE’s strong Q1 2012, and improved overall construction equipment trading in the US and Canada, had re-emphasised the company’s belief in a sustained North American market recovery.
May 18, 2012 Read time: 2 mins
2394 Volvo Construction Equipment (Volvo CE) president and chief executive Pat Olney said demand for construction equipment in North America could jump by a quarter in 2012, after revealing the company posted a 111% increase in like-for-like first quarter year sales.

Olney said Volvo CE’s strong Q1 2012, and improved overall construction equipment trading in the US and Canada, had re-emphasised the company’s belief in a sustained North American market recovery.

Speaking at a press conference in Miami, Olney said: “Demand for construction equipment in North America jumped 35% during the first three months of the year. This shows us that the recovery that began last year is gathering pace and that our earlier forecast of a 15-25% year-on-year improvement for 2012 is attainable.”
Volvo CE’s North American performance during the quarter helped the company to a 17% increase in global net sales and to post record levels of profitability for a first quarter.

Olney also used yesterday’s press event to emphasise the company’s commitment to the environment and sustainability. He highlighted Volvo CE’s Stage IIIB/Tier 4i emissions compliant range of engine systems and the more than 60 new fuel-efficient products that are being introduced to the company’s global range in 2012. Olney said the products would help Volvo CE achieve its WWF Climate Savers commitment of reducing CO2 emissions from its machines sold between 2009 and 2014 by 15million tonnes.

For more information on companies in this article

Related Content

  • Volvo CE president says 2012 was “reasonable year” despite lack of sales growth
    February 7, 2013
    Sharply reduced global demand for construction equipment in the final three months of last year led to Volvo Construction Equipment’s (CE) full 2012 year sales growing by less than 1%, compared to sales in 2011. Volvo CE sales reached US$10.037 billion (SEK 63,558mn) in 2012, compared to $10.028 billion (SEK 63,500mn) the previous year. Operating income was down to $911.7mn (SEK 5,773mn), from $1.075 billion (SEK 6,812mn) in 2011, operating margin was 9.1% in 2012, down from 10.7% 12 months earlier, and the
    Read More
  • Volvo CE Q1 2013 net sales down 33% - but firm maintains profitability
    April 25, 2013
    Volvo Construction Equipment (Volvo CE) said sharply lower global demand, especially in the mining sector, during the first three months of 2013 had caused its 33% net sales decline in the quarter to US$1.829 billion (SEK 12,136mn). The Swedish construction equipment manufacturing giant’s operating income was also down in Q1 2013 to $75.38 million (SEK 500mn), compared to $314.97 million (SEK 2,089mn) in the first quarter of 2012, while operating margin was 4.1%, down from 11.6% in Q1 2012. Volvo CE said it
    Read More
  • Volvo CE sales up 10% in Q1 2014
    April 25, 2014
    Volvo Construction Equipment says growth in mature markets is the biggest contribution to its 10% sales increase in the first quarter of 2014, compared to the same three months of last year. The first three months of this year saw improved earnings on the back of increased sales, deliveries and order intake. The period also saw the launch of a new range of Volvo CE Tier 4 Final/Stage IV compliant models.
    Read More
  • Caution not catastrophe in European market, says Volvo CE EMEA sales boss
    August 14, 2012
    There is caution but no catastrophe in the European construction equipment sales market, according to Volvo Construction Equipment (CE) EMEA sales president Tomas Kuta. Speaking at a press conference to launch Volvo CE’s PL3005D pipelayer, and ahead of the in-port race of the Volvo Ocean Race in Lorient, France, Kuta said: “Europe is not a catastrophe. Our Quarter 1 (2012) results were very much driven by Europe, but it’s the outlook that is so uncertain. “We (Volvo CE) have seen good development in the no
    Read More

Highlighted Content