GREENSBORO, N.C. — Volvo Trucks is celebrating a strong year in 2011, in which it says it reached its highest ever North American market share.
WardsAuto Group data indicated Volvo accounted for 12.1% of the combined US and Canadian retail market in 2011, a new high for the company. The data also showed Volvo gained more market share than any other manufacturer in 2011, the company announced. Volvo officials said the company also reached “record penetration levels” for its own engines and I-Shift automated transmission.
The company attributes its growth to a particularly strong performance in the US where its market share grew nearly three points and retail sales increased 109% over 2010 levels.
In 2010, its combined US and Canadian market share was 9.6%. It finished 2011 at 12.1% with a total retail volume of 23,820 units compared to just 12,100 in 2010.
“Coming after our two-point market share gain in 2010, this record 2011 performance demonstrates the market’s continued recognition of the excellent fuel efficiency and industry-leading driver comfort and safety features that Volvo Trucks is delivering today,” said Ron Huibers, president of North American truck sales and marketing. “The performance of our broad dealer network helped achieve an improved customer mix, and our fuel efficiency leadership means we’re well positioned as fleets intensify their focus on lowering fuel costs.”
Huibers said the company’s proprietary engines and I-Shift transmission have been driving growth as both have performed well in the field. The percentage of Volvo trucks sold with Volvo engines hit a new high of nearly 80% in 2011, he added. And I-Shift penetration also set a new record of more than 40% of those.
“Volvo’s integrated powertrain approach drives fuel efficiency leadership and facilitates innovations, like the XE13 fuel efficiency package, which cannot be replicated without the highest degree of coordination throughout every layer of the organization” Huibers said.
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