Volvo Trucks Achieves Record Canadian Market Share in 2014

Volvo Trucks reached a company record share of 15.3 percent of the Canadian heavy-duty retail market in 2014, according to data compiled by the Canadian Vehicle Manufacturers' Association and IHS Automotive. Volvo also achieved a 12.4 percent market share for the combined U.S. and Canadian heavy-duty retail market, another all-time high for the company. The company attributed the high marks to customers' continued positive response to Volvo's fuel-efficient products and Uptime services.

Volvo market share climbed 2.2 percentage points in Canada, with a retail volume of 4,510 vehicles compared with 3,652 in 2013. For the combined U.S. and Canadian market, Volvo achieved a retail volume of 31,065 vehicles versus 24,310 in 2013. Volvo's U.S. retail share, recorded by WardsAuto Group, was 12 percent in 2014 (26,555 vehicles), compared with 11.2 percent in 2013 (20,658 vehicles).

"This achievement is evidence of the market's acceptance of our aerodynamic trucks, fuel-efficient powertrains and commitment to maximizing Uptime support for our customers," said GÓ§ran Nyberg, president of Volvo Trucks North American Sales and Marketing. "Continuing our focus on these customer needs, as well as driver productivity and safety, will well-position Volvo Trucks for the future as fleets continue to seek products that increase their return on investment."

Nyberg said the Volvo I-Shift automated manual transmission and XE – eXceptional Efficiency – powertrain packages were key drivers to the market share achievements. Volvo I-Shift penetration was a record 75 percent in 2014, and more than 28 percent of all trucks sold in 2014 featured an XE package. Volvo offers the XE powertrain package for its 11-liter D11, 13-liter D13 and 16-liter D16 engines.

XE packages improve fuel efficiency by lowering engine rpm at a given vehicle speed, a concept Volvo calls "downspeeding." Made possible through the combination of I-Shift and a Volvo engine with modified software, XE allows the engine to cruise about 200 rpm less than the average truck sold today.

Volvo's focus on Uptime also was a key driver, Nyberg said. Volvo recently opened its new North American Uptime Center, bringing together key support employees and technology under one roof to help ensure that customers' trucks keep moving. The Uptime Center is the home for Volvo Action Service (VAS) staff, Volvo's 24/7 support experts, who receive alerts via Remote Diagnostics when monitored fault codes appear. Remote Diagnostics is Volvo's telematics-based proactive diagnostic and repair planning system that monitors critical fault codes. Remote Diagnostics identifies what parts will be needed and provides technicians with straightforward repair instructions – even before the truck arrives for service. Remote Diagnostics can reduce the diagnostic time by up to 70 percent and lower repair time by more than 20 percent. Over 50,000 Volvo trucks are equipped with the system, which has been standard on all Volvo-powered models since 2013.

Volvo Trucks provides complete transport solutions for professional and demanding customers, offering a full range of medium to heavy duty trucks. Customer support is secured via a global network of 2,200 dealers and workshops in more than 125 countries. Volvo trucks are assembled in 15 countries across the globe. In 2015 more than 113,000 Volvo trucks were delivered worldwide. Volvo Trucks is part of the Volvo Group, one of the world's leading manufacturers of trucks, buses and construction equipment, and drive systems for marine and industrial applications. The Group also provides solutions for financing and service. Volvo's work is based on the core values quality, safety and environmental care.

The Volvo Group, which employs about 100,000 people, has production facilities in 18 countries and sells its products in more than 190 markets. In 2015, the Volvo Group's sales amounted to about $37 billion. The Volvo Group is a publicly-held company headquartered in Gothenburg, Sweden. Volvo shares are listed on Nasdaq Stockholm. For more information, please visit www.volvogroup.com or www.volvogroup.mobi if you are using your mobile phone.