Volvo Construction Equipment reported sales up 17 percent in the first quarter of 2012, to $2.67 billion. Sales in North America totaled $493.6 million, a 111-percent increase over 2011. China sales were “maintained,” the company says, despite a 26-percent drop in the market.
Operating income for the quarter grew 21 percent, a company record.
“The strong sales growth and high profitability is a combination of growth in all regions, especially in North America, and our success in achieving sales and profitability is on a par with the preceding year in China, despite the significant weakening of that market,” said president Pat Olney. “Our success in China was due to our continued ability to capture market share, thanks to a strong product portfolio and our efforts to establish stable distribution channels.”