Sales of Volvo commercial vehicles up in Q3

www.chinatrucks.com: Market needs for Volvo commercial vehicles kept strong in the third quarter this year, and sales revenues were 73.3 billion SEK, up 22% over last year, and net profits were 5.8 billion SEK, and profit rates were 7.9%.

In the third quarter, net sales increased by 15% to SEK 73.3 billion (64.0). Adjusted for currency movements and acquired and divested units, sales increased by 22%.

The third quarter operating income amounted to SEK 5.8 billion (4.9). Operating margin was 7.9% (7.7). Compared to the third quarter of 2010, changes in exchange rates had a negative impact of approximately SEK 1.8 billion.

In the third quarter, operating cash flow in the Industrial Operations was positive in an amount of SEK 2.2 billion (Neg: SEK 1.9 billion).

In the third quarter, basic and diluted earnings per share amounted to SEK 1.89 (1.38).

Return on shareholders’ equity of 22.1% on a rolling 12-month basis.

Profiting ability for truck business keeps increasing, and sales revenues amount to 47.7 billion SEK, up 22%, and net profits were 3.96 billion SEK, and profit rates were 8.3%.

"Volvo truck markets are optimistic in the third quarter, and Volvo shares are increasing in Europe, North and South America, and this can be attributed to Volvo competitive complete transport solution, high-quality products, services and strong dealers, " said Olof Persson, President and CEO of Volvo Group.
　　
Till now Volvo has received 60,000 truck orders, and 55,000 of them have been delivered.
　　
Mr. Persson estimates that markets needs for heavy trucks in Europe will amount to 240,000 units and 210,000 in North America.
　　
Volvo released a new product VM in Brazil to strengthen Volvo position in the country, and market needs in Brazil will shrink since new emission standard will be carried on Jan. 1, and this year, the market needs will be 120,000 heavy trucks.

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