Positive development in the short and long term

Thanks to hard work and the resolute execution of cost-cutting measures, the Volvo Group has taken itself through the collapse of the global financial system and emerged as a stronger company at a time when the economic trend is once again pointing in the right direction. I can conclude that both our distributors and our suppliers are doing a great job, and that together we stand prepared to meet the expected continuation of the rise in volumes that we saw during 2010. We are continuously working to trim the industrial system in order to improve productivity and capital efficiency. We are also intensifying our activities within product development in preparation for several important product launches in the coming years.

Against the background of the Volvo Group’s improved profitability, good cash flow, reduced debt and the improved market outlook, as well as the investments we have made and continue to make in our plants and in product development, I look upon the development of the Group with confidence, both in the short- and the long-term perspective.

Finally, I would like to say that it has been a pleasure to work for the Volvo Group for these past 14 years and that  I wish my successor every success in leading the Volvo Group into the future.

Leif Johansson
President and CEO