Increased market share for Volvo Trucks
Shah Alam, 4 April 2017 – In 2016, Volvo Trucks recorded an increase of 4.8% in sales compared to their performance in 2015. This represents 370 units sold and 45% market share of the premium European heavy-duty prime mover segment.
“The overall heavy duty truck market in Malaysia had actually shrunk by 5% in 2016, mainly attributed to a slowdown of the economy and currency depreciation, which resulted in companies scaling back on their capital expenditures,” said Mats Nilsson, managing director, Volvo Malaysia.
“Our success for 2016 is definitely a continuation of our record achievement from three years ago, where we enjoyed a 38.5% growth in truck sales, marking our most robust growth in the past fifteen years,” he added.
Volvo Malaysia started to embark on several new strategic initiatives aimed at driving the business forward. These included a RM75 million investment on network expansion that involved the relocation of some of its dealerships to new sites for customers’ better access and upgrading of facilities and technical skills for quality services. This effort has enabled Volvo Trucks to establish better dealer coverage of within three hours from one workshop location to another.
“Volvo Trucks is gearing up towards the opening of regional borders under the ASEAN Economic Community agenda. When trade borders open, this means that a company can transport goods from Singapore all the way to Thailand or vice versa without having to change prime movers, if they are using a reliable truck, or have its cargo inspected, just like in Europe. We have the most number of dealerships in Malaysia among European brands. This is one of our strengths which we plan to leverage by looking into setting up a common regional call centre in Malaysia that can collectively and seamlessly cater to the needs of our local and regional customers once the trade borders open,” emphasized Nilsson.