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Volvo Trucks has recorded sales of 479 units of prime movers and rigid trucks in the 2019 financial year, up 6.5 per cent or 29 units from 450 units sold in 2018. -- NSTP Archive

KUALA LUMPUR: Volvo Trucks has recorded sales of 479 units of prime movers and rigid trucks in the 2019 financial year, up 6.5 per cent or 29 units from 450 units sold in 2018.

Out of the total truck sales in 2019, more than 70 per cent were Volvo FM models, while the rest consisted of Volvo FMX and Volvo FH models, Volvo Malaysia Sdn Bhd said in a statement today.

Volvo Malaysia managing director Mitch Peden said the company posted an increase in sales volume although the local heavy-duty truck market experienced an estimated 13 per cent decline last year.

“We are extremely pleased to have achieved such a remarkable and record-breaking overall result for the year despite some market challenges such as the changes in regulations, more intense competition and stringent loan approvals.

“Our sales performance is a positive sign of Volvo Trucks’ continuous and sustained growth in Malaysia, enabling us to start the new year with a stronger momentum and energy,” he said.

Volvo Trucks’ stellar performance has also helped increase its market share in the prime moversegment to 26 per cent in 2019, in spite of a stagnant growth in the prime mover segment last year, based ondata released by the Malaysia Automotive Association (MAA).

Volvo Trucks said its sales volume had been growing in the past 10 years with a compounded annual growth rate of 13 per cent since 2010, and took a leading position in the prime mover segment.

“Our stellar truck sales performance in 2019 is the fruit of our labour from all the continuous commitments we have underscored in conjunction with Volvo Trucks’ 50 years’ anniversary in Malaysia. It is a very significant achievement for us, which is partially supported by fleet replacement exercises by several of our key customers,” he added. – BERNAMA

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