The growth in Volvo’s earnings in 1997 was satisfactory. Sales and operating income increased in all business areas. The level of activity was high and the good results are to be attributed to the great efforts and fine performance of employees throughout the Volvo Group.
During the year, to ensure durable profitability over the long term, management conducted a comprehensive review of the Group’s needs. This showed three areas in which, in order to maintain its competitiveness, Volvo must increase its efforts during the next three years; growth, product renewal and operating efficiency.