Volvo Reports Record 1Q Sales Thanks to North America

4/27/2012 Volvo AB reported record first-quarter sales for 2012, boosted by North American numbers for the strongest numbers recorded in this period despite a 2% drop in profits in the first quarter.

In North America, Volvo delivered 12,800 heavy-duty trucks in the first quarter, on received orders of 13,800.

Sales performance caused the company’s share price spiked 5% to $13.97 in early market trading on the Stockholm stock exchange.

Volvo reported a net profit of $595 million for 1Q 2012, down slightly from the same period a year earlier. Costs, especially those associated with research and development, brought the bottom-line figure down compared with last year.

However, revenues jumped 10% to $11.7 billion, the highest the company has ever recorded during a first quarter.