VOLVO CE Q3 SALES SLIDE 6%
Volvo Construction Equipment’s net sales decreased 6 percent in its fourth quarter, totaling $1.4 billion (SEK 11.884 billion) down from $1.5 billion (SEK 12.582 billion) in 2014.
Growth is present in North America, at 4 percent, but the rate of growth is showing signs of slowing. During the year-to-date the European market is down 7 percent, mainly driven by a sharp drop in Russia and a slowdown in France. Excluding Russia, the European market is up by 3 percent.
The decrease in South America (-36 percent) continues to be caused largely by Brazil (-45 percent), which is being affected by slow economic development and low overall business confidence. The Chinese market, meanwhile, has continued to decline sharply – falling 50 percent in the year-to-date.