Chinese firm buys stake in Volvo Trucks
A busy year in trucking refuses to go out with a whimper, as new reports broke Wednesday that China's Geely Holding is buying an 8.2% stake in Volvo Trucks. The shares will be purchased from the Cevian Capital investor group for approximately $3.3 billion, according to published reports.
Volvo expands land for customer experience
DUBLIN, VA - Volvo Trucks has added 49 acres to a customer experience track next to its 36,000-square-foot Volvo Trucks Customer Center. The land builds on the 1.1-mile track that already features on-highway and off-road areas. Another 221 acres has also been secured under a lease-to-purchase agreement for future use.
Volvo expands in Mexico, predicts growing Nam market
GUADALAJARA, MX - Volvo's "shape of trucks to come" has come to Mexico, with the official unveiling of the VNL long-haul tractor, VNR regional hauler, and an expanded VAH auto hauler lineup. It's a significant expansion of Volvo offerings available in the country, which had previously been limited to the VNL long-haul trucks. "Mexico is a very important market for us globally," said Magnus Koeck, vice president - marketing and brand management, comparing the market's size to that of Canada, with 25,000 to 27,000 in annual sales placing Mexico among the largest truck markets in the world. Volvo now has a presence in 140 countries overall, with manufacturing capabilities on every continent. The North American models will be built in Dublin, Virginia. There will be more trucks to manufacture, too. Volvo now projects North America's Class 8 market to reach 260,000 units next year, compared to 235,000 in 2017. That could even be a conservative number, Koeck added, noting that some analysts are predicting as many as 309,000 units. "We will see if that will hold." Buyers around Mexico City will also have easier access to the trucks, through Grupo Alden's addition to the dealership network following a US $6 million investment. Volvo now has 43 dealer locations in Mexico overall.
Past has a role in Volvo’s vision
ATLANTA, GA - Keith Brandis, Volvo's director - product planning, says the road toward improved connectivity, electro-mobility, and automation also involves looking at the way trucks with older technology operate in developing nations - and exploring how trucks have become the major or only supplier of goods in eight out of 10 communities.
Volvo Pushes Forward
Volvo has been mighty busy of late. Back in late April it chose our very own Expocam truck show in Montreal to unveil its new and long overdue VNR regional tractor. Promoted as the "shape of trucks to come," it was joined this week by another much updated truck, the long-haul VNL, replete with all manner of safety technology as standard equipment.
Volvo unveils VNL tractor
DUBLIN, VA - Volvo promised that its new regional VNR tractor was the "shape of trucks to come", and it delivered on that promise on Tuesday with the reveal of its long-haul counterpart - the VNL. The new tractor comes as the VNL 300 daycab, VNL 400 flat-roof sleeper, VNL 740 mid-roof, VNL 760 high-roof, and VNL 860 with its 77-inch sleeper. The VNL 740 and VNL 760 are also available with a new 70-inch sleeper. "It's so nice to see this truck without a cover on it," quipped Jason Spence, product marketing manager, noting how prototypes had been moved around North America under the cover of darkness. "We've been hiding the truck from you for 10 months."
Truck market has bottomed out: Volvo chief
DUBLIN, VA - Volvo Trucks has set an ambitious target for itself - to be nothing less than "Number 1" in the world. "It doesn't necessarily mean we want to be the biggest," said Volvo Trucks president Claes Nilsson, during the launch of the company's new VNL long-haul tractor. "We want our customers to make more money and be more successful." That said, Volvo is clearly on a growth curve. Globally it now has 2,000 dealers and shops - 420 of which are in North America - and sells models in more than 190 countries. "Our dealers truly believe in the future," adds Goran Nyberg, president of Volvo Trucks North America. About US$600 million has been invested in the manufacturer's North American dealer network since 2010, adding 65 new locations and increasing service bay activities by 51%.