Volvo global trucks deliveries, january-march 2001

VOLVO GLOBAL TRUCKS DELIVERIES, JANUARY-MARCH 2001 Deliveries from Volvo Global Trucks, which comprises Mack Trucks, Inc., Renault V.I. and Volvo Trucks, during the period January-March 2001 amounted to 42,139 units compared to 47,189 in the same period last year. Order intake was down 15%, of which North America was down 26% and Europe 10% compared to the same period last year. "The North American market has continued to decline, and both Volvo Trucks North America and Mack Trucks Inc. have implemented a series of measures to adapt to the reduced demand. In Europe, the Eastern and Southern markets are still doing well, while the UK and Central European markets have slowed down," says Tryggve Sthen, President and CEO of Volvo Global Trucks. Deliveries by market area: Market 2001 2000 +/- % Europe, total 27655 27394 +1 of which Western 26021 25915 +/-0 Europe Eastern 1634 1479 +10 Europe North America 10150 16381 -38 South America 1283 954 +34 Asia 994 1147 -13 Other 2057 1313 +57 Total 42139 47189 -11 Mack Trucks, Inc. Deliveries from Mack Trucks, Inc. through March 2001 totalled 6,933 vehicles whereof 276 (284) light-and medium heavy-duty vehicles, down 32 percent from the 10,184 units delivered during the same period last year. Deliveries by market area: Market 2001 2000 +/- % North America 6564 9957 -34 South America 189 49 +286 Other 180 178 +1 Total 6933 10184 -32 In response to the declining market, Mack has announced that it will reduce its workforce by approximately 700 positions, or about 12 percent, by the end of July. The company also announced that its Assembly Operations as well as Engine Production will gradually reduce production over the next several months. Renault V.I. Deliveries from Renault V.I. through March 2001 amounted to 17,085 trucks whereof 8,664 (6768) light- and medium heavy-duty vehicles. Deliveries by market area: 2001 2000 +/- % Market Europe, total 15712 15188 +3 of which Western 15027 14616 +3 Europe Eastern 685 572 +20 Europe Other 1373 834 +65 Total 17085 16022 +7 Through March 2001, deliveries from Renault V.I. were up 7% mainly due to increases in light and medium truck deliveries. In Western Europe, deliveries increased with 3% with continued strong deliveries in France. In other markets Renault V.I. also recorded increases in countries such as Egypt, Dubai and Cameroon. Volvo Truck Corporation Deliveries from Volvo Trucks through March amounted to 18,121 trucks whereof 1,266 (950) medium duty vehicles, and 696 (757) Canter. Deliveries by market area: 2001 2000 +/- % Market Europe, total 11943 12206 -2 of which Western 10994 11299 -3 Europe Eastern 949 907 +5 Europe North America 3586 6424 -44 South America 1094 905 +21 Asia 994 1147 -13 Other 504 301 +67 Total 18121 20983 -14 The demand for heavy trucks in North America has remained low during the first quarter, and Volvo Trucks made a further reduction of its production rate in its assembly plant in New River Valley. In response to the declining market Volvo Trucks North America has earlier announced that it will reduce its workforce by 700 persons, in total. In Western Europe, the market softened during the first quarter from a high level, and Volvo Truck Corporation also reduced the production rate in its factories in Europe. The other regions Volvo Trucks' deliveries increased during the first quarter. Large increases were noted in South Africa, Malaysia, South Korea and Japan. April 18, 2001 For further information, please contact: John Mies, Mack Trucks, Inc.: tel +1-610- 709 35 91 Dominique Plassais, Renault V.I.: tel +33-1-410 40 618 Claes Claeson, Volvo Truck Corporation: tel +46-31-66 39 08 Jennifer Downes, Volvo Global Trucks: tel +46 31 667021, +46-70-206 7021 ------------------------------------------------------------ This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/18/20010418BIT00330/bit0002.doc http://www.bit.se/bitonline/2001/04/18/20010418BIT00330/bit0002.pdf