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20 Board of Directors’ Report
The Volvo Group is one of the leading
manufacturers of heavy trucks in the
world. The foundation has been estab-
lished for aggressive development of new
trucks and services. The three truck
brands – Mack, Renault Trucks and Volvo
– have highly competitive products and
worldwide market coverage.
Total deliveries from the Group’s truck
operations amounted to 193,219 trucks
in 2004, an increase of 24% compared
with the year-earlier period. In Europe,
102,666 trucks were delivered, compared
with 92,083 trucks in 2003. Deliveries in
North America were up 42% compared
with the year-earlier period and totaled
49,273 trucks. Deliveries in Asia continu-
ed to develop favorably, in particular in the
Middle East.
Mack Trucks
Mack Trucks is one of the largest manu-
facturers of heavy-duty trucks and major
product components in North America.
Since its founding in 1900, Mack has
built on its reputation of strength and
durability to become one of the leading
heavy-duty truck brands in the North
American market. In the US, Mack is the
undisputed leader in the vocational seg-
ments of the heavy-duty truck market. A
clear majority of Mack vehicles employ
drivelines manufactured in-house – a
unique feature in the North American
truck industry. In addition, Mack trucks are
sold and serviced in more than 45 coun-
tries.
Mack launched an ambitious program
of product renewal in 2004 with the intro-
duction of its Advantage chassis for high-
way applications. The new chassis deliv-
ers a variety of benefits to enhance effi-
ciency and profitability of customers’
operations – and also allows for Mack to
expand into a broader range of highway
applications.
Mack deliveries rose in 2004 to
25,469 trucks, compared with 18,991
trucks a year earlier. The gains were the
result of strengthening in the overall truck
market, tied to improved U.S. economic
conditions.
Renault Trucks
Renault Trucks traces its origin to the
Berliet and Renault companies founded
in 1895 and 1898. With a product pro-
gram that ranges from light trucks for city
distribution to heavy long-haul trucks and
military vehicles, Renault Trucks is a true
multispecialist with the ability to meet the
specific requirements of all types of road
transport.
Renault Trucks has a strong presence
in Europe with 1,350 dealers and service
centers, which on a global basis extends
to 2,000.
In May 2004, Renault Trucks intro-
duced a new generation of the light truck,
Renault Mascott, spanning the 3.5 to 6.5
ton segment. The Renault Mascott fea-
tures a new exterior and interior design,
new engines and improved performance.
In June, a whole new range of all-wheel-
drive military rigid trucks, Sherpa, was
TRUCKS
00 01 03 04
115.0116.6118.8
00 01 03
00 01 02 04
02
117.0
02
03 0
Net sales*, SEK bn
04
Operating income*, SEK bn
2.9 1.0 1.2 4.0
2.5 0.9 1.0 3 .4
Operating margin*, %
Net sales as percentage of
Volvo Group sales, %
68%
* pro forma 2000,
excluding re-
structuring costs
* pro forma 2000,
excluding re-
structuring costs
* pro forma 2000 136,9
9.0
6.6