Volvo’s fourth-quarter profits boost 2011 forecast
Lauren Heartsill Dowdle | February 7, 2011

Volvo AB reported a fourth-quarter profit that boosted its 2011 truck-delivery forecast by 10 percent.

Their fourth-quarter net income was about $500 million, compared with a loss of $308 million a year earlier. Volvo’s revenue rose 23 percent to $11.3 billion, and they delivered almost 57,000 trucks in the quarter – 49 percent more than the fourth quarter of 2009.

The company’s North American orders more than doubled compared with a year ago, and they were up 11 percent from the third quarter, Volvo says. Worldwide truck orders jumped 63 percent for the quarter from a year ago and 22 percent from the third quarter.

The company is considering assembling Volvo-branded trucks in China through its existing joint venture with Dongfeng Motor Group.

From our partners

There are no comments

Your email address will not be published. Required fields are marked *