Volvo CE Sales Dip 4 Percent in Q3

October 22, 2019
Volvo CE logo against a white backdrop.

Volvo CE reported a decrease in sales and operating income in Q3 2019, with net sales decreasing by 4 percent to $1.9 billion. Operating income was also slightly down, at $226.0 million. This equated to an operating margin of 12.2 percent, according to a press release. Net order intake also decreased by 9 percent compared with the same quarter in 2018. 

North America saw an increase of 7 percent over the last year, driven by growth in large excavators, haulers, and wheel loaders. Up until the end of August, the European market was up 4 percent. South America was up by 10 percent, and Asia was down by 11 percent from last year. 

Volvo CE has also signed a contract for the first commercial pilot of its autonomous battery-electric load carrier. The trials will be conducted with Harsco Environmental in Sweden.

Source: Volvo CE