GOTEBORG, Sweden, Feb. 7, 2003 (PRIMEZONE) -- Volvo (Nasdaq:VOLVY):
Volvo Trucks increased its deliveries by six percent in 2002 compared with the previous year. 69,483 trucks were delivered despite change over in production with lower volumes at the beginning of the year. The launch of the new product range contributed to a very successful year for Volvo Trucks.
The total world market for heavy trucks noted an all-time high at about 880,000 units. China accounted for a major proportion of the significant increase in demand. All the market divisions contributed to Volvo Trucks' strong improvement. The growth was greatest in Asia, where several countries noted record sales, among them China (1,049, +89 percent) and South Korea (833, +71 percent). Iran was the largest market in Asia, increasing to 2,372 (+ 179 percent). Despite a shrinking total market in Brazil, Volvo made a good year with increased sales (+3 percent) and became market leader.
Positive development in Europe
The European division had a very successful year with the launch of the new truck range. Despite the 11% decline in the market, Volvo met a strong demand. This is the result of long-term efforts to increase customer satisfaction and improved transport economy for the new Volvo FH and Volvo FM. Volvo was market leader in all Nordic countries and in some ten European countries, including Belgium, its second home market. Volvo also strenghtened its position in the very competitive German market. Volvo Trucks' total market share in Western Europe dropped to 14.1 percent (14.4 percent) as a result of the low production rate at the start of the year. Increase in the USA Volvo Trucks North America increased deliveries by 14 percent, mainly because many customers chose to advance their truck purchases ahead of forthcoming new tougher emissions regulations (EPA02), which came into force on October 1, 2002. The new Volvo VN Series was launched during the autumn 2002. It received a very warm welcome by customers and the trade press alike. The Volvo VN is the only truck model that has been optimised to meet the new EPA02 norms. More than 6,000 orders have already been signed for the new truck.
The new product range received a remarkably enthusiastic welcome and demand far exceeded the company's expectations. The main factories in Europe have been operating at full capacity to secure deliveries to customers. The factory in Curitiba, Brazil, also helped cut delivery times by supplying cabs for the Volvo FH and Volvo FM
DELIVERIES PER REGION:
JANUARY - DECEMBER +-%
2001 2002
TOTAL, EUROPE 39,384(a) 38,570 - 2
OF WHICH:
WESTERN EUROPE 34,719 33,667 -3
EASTERN EUROPE 4,665 4,903 +5
NORTH AMERICA 13,016 14,900 +14
SOUTH AMERICA 4,620 4,739 + 3
ASIA 5,980 8,709 + 46
OTHER MARKETS 2,344 2,565 + 9
TOTAL 65,344(a) 69,483 + 6
(a) 2001 excl. Mitsubishi Canter (1,925)
FOR FURTHER INFORMATION, PLEASE CONTACT:
CLAES CLAESON
VOLVO TRUCK CORPORATION
PHONE NO +46 708 - 36 39 08
E-MAIL: CLAES.CLAESON@VOLVO.COM
This information was brought to you by Waymaker http://www.waymaker.net
The following files are available for download:
www.waymaker.net/bitonline/2003/02/07/20030207BIT00570/wkr0001.doc
www.waymaker.net/bitonline/2003/02/07/20030207BIT00570/wkr0002.pdf