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Prime Mover Magazine

Volvo Group reports record sales

Commercial vehicle manufacturer, Volvo Group, has announced record sales for the full year of 2018.

Trucks, Construction Equipment, Volvo Penta and Financial Services all recorded their highest adjusted operating income ever.

Net sales for Q4 also increased by 16 per cent.

Volvo Construction Equipment saw sales increase 21 per cent and deliveries up by 24 per cent buoyed by strong demand from all major regions.

Martin Lundstedt, Volvo Group President and CEO said the company had adjusted operating income by 29.3 per cent.

“During the year we also continued to increase our financial strength,” he said in a statement.

“With an operating cash flow of SEK 26.6 billion we ended the year with a net cash position of SEK 43.9 billion in the Industrial Operations, excluding pension liabilities,” said Lundstedt.

“This enables us to take on the future from a position of strength.”

Net sales for the full year was $59.6 Billion.

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