Continued weak demand

Global sales of marine engines remained weak during the first quarter of the year. European markets are burdened by the debt crisis and monetary restrictions in Volvo Penta’s key markets, mainly Italy. In North America, increased activities were noted in the leisure-boat market, but still from very low levels.

The total market for industrial engines continued to decrease, primarily due to weak demand in Europe. Demand remained stable in many markets including Turkey, South Africa, Brazil and China.