Net Profit of Volvo still Increased
15 May 2009
Currently, the recession and the financial crisis are now also beginning to increasingly affect the bus industry. Although Volvo Buses reports an increase in sales during the first quarter, the number of delivered buses was lower. During the first quarter in 2009, 1,770 (2,214) Volvo buses were delivered, which is a decline of 20% compared with the first quarter of 2008 and net sales in the first quarter increased by 10% to SEK 4,006 M (3,647). Volvo Buses’ global profitability program continues, with the focus on cost reduction as well as volume and resource alignment. During the first quarter, about 600 people have been given notice of redundancy globally.
Volvo Buses is one of the world’s largest manufacturer of buses and bus chassis. Volvo Buses has approximately 7 900 employees worldwide, with production activities in Europe, North and South America, Asia and Africa and it also has a wide-ranging distributor network for aftermarket services with servicing and spare parts distribution at 1 200 workshops located in over 80 countries.
Source : english.chinabuses.com
Editor : Frederick
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