Volvo's sales are boomin
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• Volvo Trucks (GB) doubled profits and increased sales by 30% last year, 1987.
Pre-tax profits rose from £4.9 million in 1986 to £9.9 million, and total sales increased to £240 million, according to its annual figures, out last week.
Volvo truck registrations reached their highest ever with a rise of 33% to 6,063. For trucks over 3.5 tonnes, sales surged by 27% to a total of 6,255 units and truck sales over 15 tonnes increased by 27.5% with 5,552 registrations.
The company boosted the annual production rate at its Irvine assembly plant in the middle of the year to 2,900 units from 2,000. Production at the end of 1987 totalled 2,488 trucks — an increase of 20% over 1986.
Volvo also continued to increase its share in the coach market with registrations rising to 384 units from 322 units.
The company believes increased production levels helped to boost sales in 1987. It says restricted supply of FL models from Sweden had held back sales and turnover in the previous year.
Plans for the future include an expanded dealer and distributor network (planned to reach 65 at the end of 1988. Volvo has also approved plans to raise the capacity of the Irvine assembly plant to 4,500 trucks a year.