First quarter 2002
The Volvo Group is in the middle of a difficult business cycle and is going through an intensive period of ramp up activities. The business environment will continue to be difficult across the Group during 2002. There are few firm signs of immediate recovery. Our focus on Business Cycle Management will continue with a specific emphasis on inventory and cash flow. This is also a period of opportunities. We are going to take full advantage of our new products. We are also going to capitalize on increased productivity and structural improvements. Our aim is definitely to further strengthen our position during this recession.