Volvo CE Reports 13% YOY Q2 Sales Increase

Volvo Construction Equipment says it saw net sales increase by 13% in Q2 year over year, driven by higher volumes in North America, Europe and South America. Adjusting for for currency movements, net sales increase  by 21% year-over-year.

Of course, Q2 year-over-year results for all companies will be in comparison to the height of the pandemic experienced during the same quarter last year.

Volvo CE says all markets have enjoyed an uptick during the quarter year-over-year with the exception of China, which experienced a slight downturn after its Q1 surge. The company’s North American markets saw a 35% unit volume increase, driven by infrastructure spending and housing construction activity. 

High consumer confidence and increased investment in infrastructure has led to a 35% increase in global order intakes, lead by Volvo-brand products. The company’s SDLG brand was impacted by the slowdown in the Chinese market. 

Overall, demand for large and medium-sized machines remained stronger than for compact machines, Volvo CE says. 

“While maintaining a steady recovery from the challenges of last year remains our top priority, we have also continued our journey of innovation with a number of exciting launches this quarter, including our entry into the 50-ton excavator segment and the launch of our first dedicated Fuel Cell Test Lab,” says Melker Jernberg, Volvo CE president.