Volvo Trucks Corporation is one of the biggest truck manufacturers in the world. The company markets its products in more than 130 countries and enjoyed total sales of 75,300 trucks in 2003. The company develops, manufactures and markets medium and heavy trucks for all types of haulage operations. The product range is supplemented with a range of services such as financing, leasing and service agreements.
Volvo's truck operations began in 1928. Today the company is one of the world's leading manufacturers of heavy trucks. Volvo Trucks has a global operation with 10 fully owned production plants spread throughout the world and sales of more than 130 markets. The main markets are in Europe and in North and South America. The company is extending its global operations by establishing a presence in growth markets such as Eastern Europe, India and China.
The Volvo Trucks business concept is based on offering customers complete, competitive transport solutions. The success of this approach is closely linked with adherence to Volvo's core values of quality, safety and environment.
In the last three years Volvo Trucks has renewed its entire global product programme and has launched no less than nine new models. The flagship is the Volvo FH16, which was launched in Europe in 2003. This model features leading edge technology that is unique to the Volvo FH16. The most powerful engine variant produces 610 hp, with a massive 2800 Nm of torque.
In 2003 Volvo Trucks was the market leader in about 10 markets in Europe, including all of the Scandinavian countries. Demand for the new Volvo VN series contributed to increased sales in North America. This model was introduced at the same time as the new stricter exhaust emission regulations (EPA 02) came into force. The new model is optimised for low fuel consumption and has been very well received. Volvo Trucks’ market share in the US for 2003 was 9.7 per cent, an increase of no less than 2.2 per cent.
The international division, which encompasses South America, Africa, the Middle East and Asia, had its strongest year ever in 2003. A number of markets showed excellent profits, among them Iran which today is Volvo’s third-largest market after the US and Britain with 5,463 delivered trucks. Other countries that also developed well were South Africa and Australia.
Volvo Trucks has some 15 production facilities around the world and was the first vehicle manufacturer from outside China to sign a distribution agreement for domestically produced trucks in that country. In June, an agreement was finalised between Volvo Trucks and its Chinese partner, China National Heavy Truck Corporation. Under the terms of the agreement, the companies will manufacture Volvo trucks in a new assembly factory in Jinan.
Volvo Trucks also boosted its presence on the Russian market in 2003. A new assembly plant was inaugurated in Zelenograd, just outside Moscow.
The company employs about 19,000 people around the world, with 13,500 in Europe and 2,500 in the US.
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