| Fourth quarter | Year | |||||
| SEK M | 2010 | 2009 | Change, % | Change, % (1 | 2010 | 2009 |
| Trucks | 48,041 | 37,678 | 28 | 34 | 167,305 | 138,940 |
| Construction Equipment | 14,657 | 10,159 | 44 | 51 | 53,810 | 35,658 |
| Buses | 5,602 | 5,793 | (3) | (1) | 20,516 | 18,465 |
| Volvo Penta | 2,031 | 1,939 | 5 | 12 | 8,716 | 8,159 |
| Volvo Aero | 1,850 | 1,978 | (6) | 14 | 7,708 | 7,803 |
| Eliminations and other | (207) | (105) | – | – | (680) | (538) |
| Industrial operations | 71,974 | 57,441 | 25 | 32 | 257,375 | 208,487 |
| Customer Finance | 1,951 | 2,815 | (31) | (28) | 9,031 | 11,712 |
| Eliminations | (528) | (458) | – | – | (1,658) | (1,838) |
| Volvo Group | 73,398 | 59,798 | 23 | 29 | 264,749 | 218,361 |
| 1) Adjusted for exchange rate fluctuations and acquired and divested units. | ||||||