Good market development outside China

Measured in units, the total market for construction equipment was flat in December – February compared to the same period last year. In Europe the market increased by 16%, North America was up 35% and South America increased by 3%. Asia excluding China was up 24% while China decreased by 26%. Even though the Chinese market has declined considerably, the total market in China in the period was still bigger than the combined total markets in North America and Europe. Volvo CE has reinforced its number 1 position within wheel loaders and excavators in China. As of March 31, 2012 the 12-month rolling market share was 13.7% compared to 12.4% for the full-year 2011 (Source: China Construction Machinery Association).

For the full year 2012, Europe is expected to grow by 10-20% (unchanged forecast), North America by 15-25% (unchanged forecast), South America by 0-10% (unchanged forecast). Asia excluding China is expected to grow by 0-10% (previous forecast: 10-20%) while China is expected to decline by 15-25% (previous forecast: 0%).