Volvo CE sales up in Q4 but down in 2013
Overall sales drop 16% in 2013
The company saw improved deliveries especially in compact equipment, while demand in the mining segment remained soft.
Despite a recovery in quarter four sales, Volvo Construction Equipment’s 2013 remained sharply down on the previous year, falling 16% to $8.3 billion.
Deliveries were up 9% in fourth quarter as markets showed sign of improvement, with sales up 3% in the same quarter. The company saw improved deliveries especially in compact equipment, while demand in the mining segment remained soft.
Demand for larger machines, especially in the mining segment, remains subdued, said the company.
The company’s incoming president, Martin Weissburg, said that the company is picking some growth in 2014. For 2014 the total markets in China and Europe are expected to increase in the range of 0-10% measured in units, while North America, South America and Asia (excluding China) are all expected to be in the range of minus 5% to plus 5%.
“For 2014 we expect a slight improvement in market demand, mainly driven by China and Europe,” said Weissburg, the incoming president of Volvo Construction Equipment, who joined the company on January 1st 2014.
