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.
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.
