Volvo 2001 Annual Report Download - page 11
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7
Cummins and Paccar signed a long-term
supply agreement for heavy-duty engines,
and CaseNewHolland (71% owned by Fiat)
entered a global alliance with Kobelco of
Japan. Deere and Hitachi integrated its
marketing operations in North, Central and
South America and also established a joint
venture for wheel loaders in Japan and Asia.
Iveco agreed to acquire the shares in Irisbus
from Renault and MAN acquired the
bus manufacturer Neoplan while Daimler-
Chrysler and Raba (Hungary) are to start
joint production of heavy trucks.
The trend for road transportation demand
is still growing by 2–2.5% globally. The on-
going decline in the North American heavy
truck market started in early 2000 and the
current level at 170,000 (246,000) vehicles
has not been seen since 1993. However, the
prolonged inventory reduction indicates
decreasing cutbacks in production. In the
EU, the market has remained comparatively
sturdy. Compared with the 2000 figures, the
heavy truck market in the EU decreased by
3% to 232,000 vehicles (240,000).
Strategy
Vision
Volvo’s vision is to be valued as the world’s
leading provider of commercial transport
solutions. This vision derives from the Volvo
mission and the Volvo values. To ensure the
achievement of the vision, it is crucial to
identify distinct strategic objectives for the
coming 3–5 year period. This is done by
analyzing the business environment and its
driving forces through scenario-planning.
The relative position
of the Volvo Group
Volvo is one of the world’s leading
manufacturers of commercial vehi-
cles:
• Trucks – number 2 (> 16 tons).
• Buses – number 2 (>12 tons).
• Construction Equipment – number 4.
• Penta, marine leisure inboard –
number 1.
• Aero – one of 3 players in com-
ponents for aircraft engines.
• Heavy diesel engines – number
3 (9–16 liters).
From such a process, it is possible to deduce
what to do through the strategic objectives
and how to do it through key activity plans
supporting the objectives.
Volvo values
Quality, safety and care for the environment
comprise the timeless core values of the
Volvo Group. These values are integral ele-
ments of the Volvo organization, the Volvo
products and the way in which Volvo
employees work. The Volvo core values
drive the development of new product offer-
ings, but also the way Volvo serves its custom-
ers and the community.
Those who use Volvos products and ser-
vices rely on them for their livelihoods. This
means that Volvo must provide its customers
with means of conducting their businesses
securely and profitably to enable them to
compete successfully. The positive reputa-
tion which Volvo enjoys among its custom-
ers is founded largely on a program of
successful, long-term activities, based on the
company’s three core values.
Mission
In a constantly changing world, the
Volvo Group has set its mission:
By creating value for our cus-
tomers, we create value for our
shareholders.
We use our expertise to create
transport-related products and ser-
vices of superior quality, safety and
environmental care for demanding
customers in selected segments.
We work with energy, passion and
respect for the individual.