Volvo CE says it has enjoyed a solid performance for Q2, including a 28 percent sales increase in North America, despite enduring a 27 percent drop in deliveries due primarily to a market decline in China.
Net order intake has also 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 company says 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 variations which saw sales greatly increase in North America (28 percent) and South America (121 percent) 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 by the ongoing Covid-19 pandemic and the war in Ukraine by supporting its communities, preparing for the future and providing more sustainable solutions in the here-and-now with its strong focus on electromobility and services.
“Thanks to the hard work of our colleagues and supply chain partners, we are enjoying a confident performance with solid sales on a par with last year," says Melker Jernberg, president of Volvo CE. "With our dedication to expanding our electromobility offering and taking action to place more sustainable construction solutions into the hands of our customers, we not only remain strong in the face of an unpredictable global outlook but are geared for growth.”
Source: Volvo CE
