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Volvo sales slide, orders improve

Jason Cannon October 25, 2013

565744_4690076450119_513019858_nThe world’s second largest truck maker reported a drop in third quarter profit, thanks in part to currency exchange rates and massive global product refreshening project.

“The product renewal is the largest in the history of the Volvo Group,” says Olof Persson, President and CEO of Volvo Group, “and it means we are going to enter 2014 with a highly competitive product range.”

The company is in the process of rolling out more than a dozen new or refreshed models to meet tightening emissions standards.

Sagging sales didn’t help, either.

In the third quarter, the company says net sales decreased by 5 percent.

“We have had good order intake during the year,” Persson says. “During the third quarter it was up by 7 percent compared to the third quarter last year and we have good order books for the fourth quarter.”

Persson says order intake has been limited by production capacity and that the company has essentially sold out of trucks in Europe and Brazil.

In North America, Volvo Group delivered 11,072 trucks in the last three months, compared to 10,659 in the same period the year before. In the first nine months of the year, the group has delivered 31,982 trucks, lagging behind the 37,329 units through September 2012.

Mack delivered 4,401 trucks in the third quarter, down from the 4,574 delivered the year before. Though September this year, Mack has delivered 13,548 trucks, down 22 percent from the same period last year.

Volvo-branded North American truck deliveries in the third quarter were up 10 percent to 6,579 units. Through the first nine months this year, deliveries of Volvo-branded trucks have totaled 19,497, down 7 percent to last year through the same period.

The total North American retail market for heavy-duty trucks fell 9 percent in the third quarter to 171,666.

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