Volvo ends 2016 on positive note

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Volvo Construction Equipment Sales of Volvo machinery were up 20 percent in the final quarter of 2016 Volvo Construction Equipment

Vovlo Construction Equipment ended 2016 on a high note, with Q4 results showing a net sales increase of 20 percent.

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The official figures showed a net sales increase of 20 percent to SEK 13,110M (approx $A1.9m). The results also show order intake increased by 35 percent and deliveries were up by 19 percent to 10,639 machines. Order intake increased across all markets, but most notably in China and Europe.

The European market saw a 46% increase in Volvo orders, with Russia in particular showing strong growth. North America saw a 35 percent increase in orders from the low levels seen in 2015. Order intake increased in Asia by 29 percent, mainly driven by increased demand from China and India. Increased sales of the SDLG brand in China and Southeast Asia.

The positive results stand out against the backdrop of an overall flat global machinery market, with growth in Europe and Asia offset by a continuing drop in the South American market.

"Global demand for construction Equipment was largely flat in 2016," Volvo Construction Equipment president Martin Weissberg says.

"However, there were signs of progress in Asia. Volvo shows positive signs of growth in our stronghold segments of excavators, wheel loaders and articulated haulers.  The ongoing work to improve Volvo CE’s competitiveness is yielding results." 

Volvo says the strong fourth quarter numbers are the result of a new and more efficient R&D being introduced and the decision to replace externally sourced engines in Volvo excavators and wheel loaders with eight-litre models produced in-house.

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