Page 80 • August 3, 2022 • www.constructionequipmentguide.com • CONSTRUCTION EQUIPMENT GUIDE
INDUSTRY EXCLUSIVE AUTOMATIC T TRACK TENSIONING SYSTEM
Quality Fleet Service, Inc. qualityfleetservice.com
548 New Ludlow Road • South Hadley, MA 01075 413-213-0632
Volvo CE Posts Solid Performance in Second Quarter Moderate fluctuations across different regions have seen sales remain flat for Volvo Construction Equipment (Volvo CE) in the second quarter of this year — resulting in a solid performance during challenging market conditions. Volvo CE has maintained its strong position on the market — while taking action to build a more sustainable construction equipment offering for today and tomorrow. It has enjoyed a solid performance for the last quarter, despite lower deliveries, down by 27 percent, due primarily to the market decline in China. Net order intake also has declined by 42 percent in the last quarter as a consequence of this drop in China and a natural outcome from the high order intake experienced during the same quarter 2021. However, the downturn in China has been well compensated by growth in the rest of the world. In Q2, 2022, total net sales were flat at SEK 25,814 M (SEK 25,839 M in Q2, 2021) — remaining
steady due to market variathe banner of “Change Starts Here”, tions which saw sales Under more than 7,000 customers visited Volvo’s greatly increase in North headquarters to take a closer look at its America (28 percent) and line-up of products and services for today South America (121 perand tomorrow. cent) but drop slightly in the larger markets of Europe (-2 percent) and Asia (-24 percent). While service sales continued to rise, enjoying an increase of 5 percent, net sales of machines declined by 11 percent. Volvo CE is continuing to weather the challenges created to expand its already industry-lead- face of an unpredictable global outlook but are geared for growth.” by the ongoing COVID-19 pan- ing electromobility portfolio. Melker Jernberg, president of demic and the war in Ukraine by Market Development supporting its communities, Volvo CE, said, “Thanks to the Construction activity in most preparing for the future and pro- hard work of our colleagues and viding more sustainable solutions supply chain partners, we are markets has remained on good levin the here-and-now with its strong enjoying a confident performance els, driven by both the commercial focus on electromobility and serv- with solid sales on a par with last sector and the ongoing investments year. in infrastructure. While the ices. “With our dedication to expand- Chinese market declined due to This last quarter has demonstrated its commitment to building a ing our electromobility offering lower economic activity and pricbetter world with the world’s first and taking action to place more ing pressures, Asia outside of customer handover of a machine sustainable construction solutions China instead saw strong growth in made using fossil-free steel and into the hands of our customers, key markets supported by governinvestment in Dutch firm Limach we not only remain strong in the ment stimulus and high commodi-
ty prices. There is a continued need to renew and expand an aging infrastructure in many countries across the world, with the South American market remaining on a favorable trend with demand for commodities on a high level. While construction activity in both Europe and North America remained high in Q2, total market deliveries were impacted by limited machine availability because of supply chain constraints. The quarter also marked an important event for Volvo CE with the return of its flagship Volvo Days in Eskilstuna, Sweden, for the first time in four years. Under the banner of “Change Starts Here”, more than 7,000 customers visited the company’s headquarters to take a closer look at its line-up of products and services for today and tomorrow. For more information, visit volvoce.com.
