Volvo CE gross sales up 10% in 2Q on enchancment in North America, Europe
Volvo Development Tools noticed gross sales enhance by 10 % 12 months over 12 months within the second quarter.
The corporate says the majority of the achieve was as a consequence of elevated gross sales in Europe and North America together with “robust focus” on the corporate’s service enterprise, “quantity flexibility within the industrial system and tight price management.”
Internet gross sales for the quarter rose to 27 billion Swedish Krona (SEK), or $2.85 billion. Working earnings rose 13 % to 4.153 billion SEK ($441 million).
In Europe, gear gross sales rose 5 % to eight.788 billion SEK ($934 million).
Volvo says demand for giant excavators, highway gear and articulated haulers is pushing demand in North America, the place gross sales rose 7 % to five.621 billion SEK ($597 million).
In China, Volvo says demand rose eight % as a consequence of progress within the compact excavators market.
Volvo says order consumption elevated by 6 % throughout the quarter, with the corporate’s SDLG-branded machines seeing order consumption enhance by 28 %. In China, order consumption elevated by 21 %, pushed by demand for SDLG excavators and wheel loaders.
Deliveries had been up 12 % for the quarter.
“Volvo CE continued on the trail of elevated gross sales and improved profitability within the second quarter,” says Volvo CE president Melker Jernberg. “Quantity flexibility within the industrial system and tight price management will proceed to be in focus within the second half of the 12 months.”