Volvo CE planning 60 new launches in 2012
By Chris Sleight18 April 2012
Volvo Construction Equipment will launch 60 new models this year, building on the 50 machines it unveiled in 2011.
Volvo CE President & CEO, Pat Olney said, "The launches were partly driven by emissions legislation, but also by on-going improvements."
Mr Olney also confirmed the company enjoyed a record year in 2011, with revenues up 21% and unit sales up 30% to 84000 machines. More than half of these units were sold in China, where Volvo, together with its subsidiary Lingong (SDLG) sold some 47320 excavators and wheeled loaders. Mr Olney said this made it the biggest player in the market, with a 12% share.
This sales growth helped Volvo to overtake Hitachi last year to claim no. 3 position in iC's Yellow Table ranking of the world's largest construction equipment manufacturers, behind Caterpillar and Komatsu.
The company is taking an increasingly localised approach to manufacturing, with significant investments in factories in Brazil, India and China. This has seen excavator production start at its plant in Bangalore, India, among other recent developments.
The company has announced it will apply this approach to machine attachments, with a series of regional hubs to supply local markets with tools matched to their requirements. The first hub is in Europe, with others to follow in China, North America and Latin America. All four are due to be operational by the end of 2013.