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Volvo Is On The Road To Success

Volvo Is On The Road To Success

Volvo Group has set a new benchmark by manufacturing more trucks than ever before in the year 2015. The company reached this new benchmark by breaking all the prior market share records in Canada and the U.S.

But Goran Nyberg, the CEO of Volvo Trucks, believes they still have to go a long way before they will truly feel pleased from themselves. Speaking to the press, he emphasized that the company still has more room for innovation and expansion to target more market segments in the coming years.

The company’s market share reached 12.4% after a growth of 0.4% in 2015 in America and 0.1% up to 16.3% in Canada. Not only that, Volvo surpassed its 2006 highest production mark by shipping a record 38,849 trucks to New Year Valley.

“If you can gain share even in a tough market, that’s something that needs to be celebrated,” stated Nyberg.

Nyberg also agreed that the upcoming North American truck market for 2016 seems to be softening on which he remarked that this year’s demand for Class 8 trucks will total to about 260,000 units.

“It’s still a very good year,” Nyberg said. “We are adjusting to the new normal now.”

The company expects that it will be expecting more orders by the beginning of the second half. According to Nyberg, the company earned the most in 2015 chiefly on its strength of regional and long-haul business, but as for the goals of this year, the company will be focusing on many other segments such as petro-chemical heavy-haul applications and intermodal.

“I truly believe we have a great opportunity to grow in some of those segments. We will defend and continue to push our core segments but we will find further growth in other industry segments,” said Nyberg.

Volvo Group has also recently restructured its business to become more brand-centric. Speaking about this notion, Nyberg explained, “We’ve gone back to a brand organization, where each brand has a direct line out to every market they are represented in.” He also believed that this new focus on the different brand they serves will open up more opportunities for brand success.

“We recognized that customers are buying from brands. Martin Lundstedt wants us to be laser focused on each brand and maximize the opportunities for each brand.”

In his concluding remarks, he praised the company’s efforts of coming this far but kept focusing on the opportunities yet to come.

“From a Volvo Trucks North America point of view, we will be one step closer to headquarters and making sure we get all the attention we need,” he stated.
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