Steady growth in first quarter results
Pan Weibo, senior vice president of Volvo Group and president of Truck Asia Business, said in an interview that Volvo Group is the world’s second-largest manufacturer of heavy trucks and large passenger vehicles, and the third largest manufacturer of construction equipment. However, in 2009, affected by the financial crisis, Volvo truck sales fell by 50%, of which Europe and North America fell the most. However, for 2010, Pan Weibo expressed an optimistic view, he revealed that the forthcoming quarterly earnings report will show Volvo's strong growth after the financial crisis, "from the fourth quarter of last year to the first quarter of this year, the overall trend of a steady increase, There is a strong recovery."
In this regard, Jiang Wei, vice president of Volvo Investment Corporation, told NetEase that the company’s performance in China’s region has mainly benefited from the implementation of the central stimulus plan. This is embodied in several aspects such as the pulling of infrastructure, the promotion of large-scale national activities such as the World Expo, and post-disaster reconstruction.
Pan Yubai said that from the perspective of truck sales, the economy has been steadily picking up. He upholds the long-held view that he is optimistic about the future of Asia and China. He said that “Asia has a very big prospect of recovery in 2010 and 2011.†Asia is second only to Europe for Volvo. The second largest market, sales accounted for about 20% of global sales. In the Asian market, China ranks second, Japan the largest, and India third.
No other brands will be sold in the field of commercial vehicles
Pan Weibo was continuously interviewed by four media companies throughout the day. All questions involved in the acquisition of Volvo Car Brands by Geely. In response, he reiterated the Volvo Group’s statement earlier and conveyed more energy to focus on the commercial transportation sector. He said: "The Geely acquisition will not affect the Volvo Group's investment and development in China and globally, nor will it affect the Group and its employees in China." He believes that Geely has the ability to do a good job.
Currently, Volvo’s commercial transportation brands include Mike Trucks, Renault Trucks, Volvo Trucks, UD Trucks, and Volvo Buses. Pan Weibo said that these brands will not be sold. “We need to work harder and there is no reason to sell them.â€
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