GOTHENBURG, Sweden — The Volvo Group saw increased sales and profitability during the second quarter compared with the same time period one year ago, the company reported.
The company produces engines and transmissions at its powertrain plant off Interstate 81 just north of Hagerstown.
Martin Lundstedt, president and CEO, said in a news release that net sales increased by 12 percent. The company reported an operating margin of 9.7 percent, he said.
“All our business areas improved their operating income,” he said.
In comments included with the company’s quarterly report, Lundstedt said recent trends in truck markets continue with “good demand in Europe, including a distinct recovery in Russia and a gradual improvement in North and South America, with increased order intake.”
He said total truck deliveries were down 1 percent in the quarter, driven by lower deliveries in North America. But he added that the company “took a very important step” in North America in July with the announcement of the new Volvo VNL series long-haul tractor. The truck has “cutting-edge innovations in fuel efficiency, driver productivity, safety and connectivity solutions to maximize uptime,” he wrote.
Volvo Buses’ profitability was stable, with an adjusted operating margin of 4.6 percent.