Volvo’s net sales rose during the first three months of the year in all business areas and in all regions except Asia. Most pleasing is Truck’s volume growth in North America, which also contributed to a significantly improved operating income in the Trucks’ business area.
As a whole, the sales during the first three months of the year must be considered satisfactory. However, increasingly intense competition has resulted in heavy price pressure. In order to attain a higher operating margin, work is now being intensified to further reduce costs levels.