First quarter 2013
Significant sales drop impacted profitability
The Volvo Group’s first quarter of 2013 was characterized by low sales volumes and low capacity utilization, while the Group continued to keep a high pace in the work to develop and launch new products. Net sales declined 25% to SEK 58.3 billion, primarily as a result of the weak order intake in late 2012. The sales volumes were the lowest since the financial crisis and were on the level of the first quarter of 2009. Then, the Volvo Group reported a loss of SEK 4.5 billion, compared with a profit of SEK 0.5 billion for the first quarter this year.
- Olof Persson, President and CEO -