VOLVO Construction Equipment increased sales by 6% in Q4 of 2020 following ‘improved activity’ in most markets.
The manufacturer said the order book was up by 31%, with the results representing something of a recovery following a ‘steep drop’ in demand in the first half of the year due to the Covid-19 pandemic.
Until November, Volvo reported that both the European and North American markets were down 14%, while South America rose 12%, largely as a result of an improving Brazilian market. There was also a ‘sharp recovery’ in China, which was up 28%, although Asia as a whole was down by 6%.
In Q4, order intake in Europe increased by 20% but fell, compared to last year’s record order, by 18% in North America. In South America order intake was up 182%, while in Asia order intake was up 39%.
Melker Jernberg, president of Volvo Construction Equipment, said, “In 2020 the global pandemic presented us with challenges that are unprecedented in modern times. But together with business partners and suppliers we were able to support customers through all stages of the crisis. Construction activity is now back on a par with pre-pandemic levels, and this is giving confidence to customers, which is visible in our strong order intake.”