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 ‘routes’ for Chicago highway project
    May 22, 2014
    More than 2.5 million m³ of material is being moved with a fleet of Volvo Construction Equipment (Volvo CE) articulated haulers in the US state of Illinois. Home to the world’s first skyscraper, the Chicago Bears – and the Blues Brothers – Illinois is the fifth most populous American state and a major transport hub. Industrial cities and agricultural productivity is growing in central and northern Illinois – while natural resources like coal, timber and oil and gas in the south help provide the state with
    Read More
  • Chinese firm XCMG is developing its US presence
    March 5, 2014
    XCMG is increasing its presence in the North American market, emphasised by the fact that the machines on its stand at Conexpo 2014 are already sold. Yansong Wang is vice president and chairman for XCMG and said, “All the machines have been ordered by customers.” The nine machines included three excavators, a soil compactor, a wheeled loader and various cranes. The units meet North American Tier 4 emissions requirements and Wang said, “All the machines are powered by Cummins diesels. The machines are simil
    Read More
  • Strong equipment exports are aiding Italian construction equipment manufacturers
    May 18, 2012
    Details from the Italian construction equipment manufacturing asscoaition, UNACEA, show that domestic machine sales are still falling, while exports keep on growing. However exports are growing at a slower rate than in 2011. Over the first quarter of 2012, 1,820 construction machines were sold on the Italian market, a drop of 22.4% from the same period in 2011. These included 1,734 earthmoving machines, a fall of 22.4% compared to the first quarter of 2011, while there were 40 road machines sold, a drop of
    Read More
  • Wacker Neuson reports strong performance
    August 12, 2013
    Wacker Neuson reports a strong financial performance in the second quarter of 2013, despite tough prevailing economic conditions. This represents an improvement also from the first quarter of 2013 when economic performance was weak. The Wacker Neuson Group’s second quarter revenue increased by 15.8% over the previous year, reaching €329 million compared to €284.2 million. An increase in construction activity in April helped boost sales. “In Q2, our revenue rose 28 % on the prior-year quarter to a new record
    Read More

Highlighted Content