Volvo breaks all sales records

The Volvo Group has reported its highest ever sales and operating income in 2017.

For the full year, Volvo grew its net sales by 11 per cent to SEK 335 billion ($53.29 billion) and improved its operating income to SEK 30.3 billion ($4.85 billion).

According to Volvo President and CEO, Martin Lundstedt, Volvo Trucks recorded its highest operating income ever as most truck markets are on high levels or in upward trends.

"In Europe, good freight environment, low fuel prices and low interest rates provide support to customer profitability and their demand for our trucks," Lundstedt said.

"Our performance in Europe is strong, with Volvo Trucks’ market share on a historically high level of 16.8 per cent for the full year and with Renault Trucks regaining market share, ending the year on 8.6 per cent.

"The North American truck market is picking up. Both Volvo and Mack have benefited from the increased demand."

In total, Volvo delivered 59,814 trucks in Q4, which was 18 per cent more than in the preceding year, despite continued constraints in the supply chain. Order intake increased by 29 per cent to 69,597 trucks

"[2018 will] be a year when we continue to invest in new and innovative technologies to the benefit of our customers and society," Lundstedt said.

"We are a company working hard with continuous improvement, which is a decisive factor to secure our customers’ success and shareholder value in both the short and the long term."