Segment overview
Net sales by business area
| Fourth quarter | ||
| SEK M | 2011 | 2010 |
| Trucks | 57,291 | 48,041 |
| Construction Equipment | 16,750 | 14,657 |
| Buses | 6,680 | 5,602 |
| Volvo Penta | 1,948 | 2,031 |
| Volvo Aero | 1,871 | 1,850 |
| Eliminations and other | 248 | (207) |
| Industrial operations | 84,788 | 71,974 |
| Customer Finance | 2,321 | 1,951 |
| Eliminations | (602) | (528) |
| Volvo Group | 86,507 | 73,398 |
Operating income by business area
| Fourth quarter | ||
| SEK M | 2011 | 2010 |
| Trucks | 4,906 | 3,490 |
| Construction Equipment | 1,649 | 1,758 |
| Buses | 295 | 221 |
| Volvo Penta | 94 | 73 |
| Volvo Aero | 151 | 282 |
| Group functions and other | (402) | (404) |
| Industrial operations | 6,693 | 5,420 |
| Customer Finance | 262 | 98 |
| Volvo Group | 6,955 | 5,518 |
Operating margin by business area
| Fourth quarter | ||
| % | 2011 | 2010 |
| Trucks | 8.6 | 7.3 |
| Construction Equipment | 9.8 | 12.0 |
| Buses | 4.4 | 3.9 |
| Volvo Penta | 4.8 | 3.6 |
| Volvo Aero | 8.1 | 15.2 |
| Industrial operations | 7.9 | 7.5 |
| Volvo Group | 8.0 | 7.5 |
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