Volvo Trucks Sees One Strong Year Leading into Another
Göran Nyberg speaking at NACV show. Photo: Evan Lockridge
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Göran Nyberg speaking at NACV show. Photo: Evan Lockridge
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ATLANTA– Alluding to Volvo’s rollout of not one but two new trucks in the past few month, Volvo Trucks North America President Göran Nyberg kicked off the company’s presser here at the North American Commercial Vehicle Show on Sept. 25 by declaring “it’s a great year to introduce a new truck.”
Nyberg said that’s because market conditions remain strong, with the OEM forecasting a NAFTA Class 8 market of 225,000 units for this year. He added that he “would not be surprised” if that figure ended up higher. Nyberg also said he’s currently predicting that “next year, [truck] sales will be stronger” than in 2017.
“The highway business has come back in a strong way,” he said, xplaining what is driving the Class 8 market. “And manufacturing is coming back and construction spending is up, too.”
He said a strong labor market coupled with a rise in consumer spending is driving GDP growth. Nyberg added that the “rebounding manufacturing sector” is expected to see moderate growth next year while construction spending—already at “an all-time high”– will continue to gradually increase. On top of that, he pointed out that diesel prices ae low and forecast to rise only slightly in 2018.
Nyberg said market growth was being supported by Volvo and its dealers. He said the OEM now has a dealership count of “420 and growing” and said dealers have together invested $600 million since 2010 to grow their parts and service capabilities.
He said these investments have to date yielded 65 added locations as well as a 51% increase in bay capacity; 80% in service capacity; 116% in technicians; and a whopping 312% in master techs. He added that there are “another 13 dealer locations in the pipeline.”
Magnus Koeck, vice president of marketing and brand management, highlighted …Read the rest of this story
