During the first three months of 2019, Volvo CE saw net sales jump by 15 percent to $2.5 billion, up from $2.2 billion in Q1 of 2018. These higher sales plus “improved prices and product mix” helped operating income rise to $383.3 million, the company said in a press release, up over a quarter (26 percent). Operating margin also saw improvement at 15.1 percent compared to 13.8 percent in the same period of 2018.
Deliveries were also up 5 percent during the period to 23,139 machines, compared to 22,102 machines in Q1 2018.
The major global construction markets of Europe and North America both saw growth in Q1, growing 3 and 4 percent in the first two months of the year. Growth in North America was boosted by growing demand for large wheel loaders, road equipment, and articulated haulers.