GOTEBORG, Sweden, Oct. 8, 2003 (PRIMEZONE) -- Volvo Trucks Nasdaq:VOLVY) (Other OTC:VOLVF) (Other OTC:VOLAFK) is launching the new Volvo NH in Brazil today. This is the ninth new model that the company has presented during the past three years. With the launch of the Volvo NH, the company's global product range has now been completely renewed.
The Volvo NH is a conventional truck that was first revealed in 1998. It has been developed for the South American market and it is built in Brazil.
The investment in the new heavy truck range in South America totals about 35 MUSD. This is part of the 100 MUSD that was previously earmarked for investment in Brazil. A further 35 MUSD of this amount is accounted for by the Volvo VM -- a new smaller truck in the 17 to 23 tonne segment, which was introduced in early September.
Volvo Trucks has operated in Brazil for more than 25 years and the factory in Curitiba manufactures both cabs and engines for trucks. In addition, the Curitiba factory also builds Volvo buses.
Volvo Trucks is the market leader in Brazil in the segment above 16 tonnes. The total market amounts to about 14,000 heavy trucks a year. The launch of the Volvo NH is accompanied by the introduction of the new Volvo FH and Volvo FM in South America. This marks the total renewal of the entire Volvo product range in South America.
"Today we have a highly competitive product range in every part of the world," said Jorma Halonen, President and CEO of Volvo Trucks. "Every product launch in recent years has prompted a significant increase in demand for our products, and we have consistently expanded our market shares on most markets around the world."
For further information, please contact: Claes Claeson, Volvo Trucks telephone +46 31-66 39 08 or +46 708-36 39 08
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