Volvo also hit a company record market share of 12.1 percent of the combined U.S. and Canadian retail market, and reached record penetration levels for its proprietary engines and innovative I-Shift automated manual transmission.
WardsAuto Group gathers industry data on retail sales to end-users. Volvo Trucks’ record year was fueled by a particularly strong performance in the United States, where the company’s retail market share jumped nearly three points and retails increased 109 percent over 2010. For the combined U.S. and Canadian market, the company hit a record 12.1 percent market share (vs. 9.6 percent), and boosted its total retail volume to 23,820 vehicles, vs. 12,100 in 2010.
“Coming after our two-point market share gain in 2010, this record 2011 performance demonstrates the market’s continued recognition of the excellent fuel efficiency and industry-leading driver comfort and safety features that Volvo Trucks is delivering today,” said Ron Huibers, president of North American truck sales and marketing. “The performance of our broad dealer network helped achieve an improved customer mix, and our fuel efficiency leadership means we’re well positioned as fleets intensify their focus on lowering fuel costs.”
Huibers credited the excellent performance of Volvo Trucks’ proprietary engines and the company’s innovative I-Shift automated manual transmission for driving sales. The percentage of Volvo trucks sold with the company’s proprietary engines hit a record of nearly 80 percent in 2011, and I-Shift penetration also hit a record level of more than 40 percent.
“Volvo’s integrated powertrain approach drives fuel efficiency leadership and facilitates innovations, like the XE13 fuel efficiency package, which cannot be replicated without the highest degree of coordination throughout every layer of the organization” Huibers said.
Volvo Trucks North America’s operations and products are guided by the company’s three core values: Quality, Safety and Environmental Care. The Volvo VN, VHD and VAH trucks are assembled in the United States at the New River Valley Plant in Dublin, Virginia, while Volvo engines for North America are assembled in Hagerstown, Maryland. Both plants are certified to ISO14001 environmental and ISO9001 quality standards.
Volvo Trucks North America is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, drive systems for marine and industrial applications, aerospace components and services, and one of the world's leading producers of heavy-diesel engines (9-16 liter). The Group also provides complete solutions for financing and service. The Volvo Group, which employs almost 118,000 people, has production facilities in 19 countries and sells their products in more than 180 markets. Volvo Group sales for 2011 amounted to nearly $47.8 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo Shares are listed on Nasdaq OMX Nordic Exchange and are traded OTC in the U.S.