Volvo Construction Equipment net sales grew 11 percent in the third quarter of 2021 to about $2.3 billion, up from about $2 billion in Q3 2020. Machine sales were up 11 percent, and service sales grew by 13 percent.
Sales in North America were about $440 million, up 27 percent.
Across both the European and the North American markets, demand has remained high, according to the company, citing high infrastructure investments and housing construction activity in North America.
Continuing uncertainty across market forecasts remains significant due to the inability to predict supply chain capacity and the ongoing Covid-19 pandemic.
“Despite industry-wide challenges of supply and delivery constraints, the power of Volvo CE as a truly global leader is clear to see in today’s quarterly results,” said Melker Jernberg, president, in a prepared statement. “While sales in China have dipped, the strength of sales in other regions has ensured we have remained at peak performance. This quarter has also demonstrated our leading focus on sustainable power, with several exciting launches and events, ensuring we keep a strong focus on building a brighter future.”
Source: Volvo CE
