Volvo 2011 Annual Report Download - page 24

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A GLOBAL GROUP 2011
Strong market
The South American market for heavy-duty trucks rose
by 7% to 148,000 trucks in 2011 compared to 138,800
the year before.
Brazil is the largest market by far in South America.
With 111,500 heavy-duty trucks in 2011 (109,800) Brazil
accounted for approximately 75% of the total market in
the region. The Brazilian market was primarily driven by
the positive economic development in the country.
Against the background that Brazil moved directly from
the Euro III emission standard to Euro V on January 1,
2012 order intake is expected to be relatively weak in the
beginning of the year. The total market for heavy-duty
trucks in Brazil is expected to record a slight decline and
reach a level of about 105,000 trucks for the full year
2012.
The construction equipment market rose by 18% in
2011 compared to the strong 2010. The South American
market for construction equipment is expected to grow
by 0–10% during 2012.
The South American bus market was strong during the
year and is estimated to have grown by more than 30%.
The total bus market in Brazil increased by 25% to 4,900
buses, driven by prebuys ahead of the changeover to
Euro V and by many procurements of BRT-systems (Bus
Rapid Transit) in the cities. Volvo Buses increased its
market share to 23%.
The South American market has had high growth rates in recent years with
Brazil as the engine. The fundamentals are in place for this development to
continue.
DEVELOPMENT BY CONTINENT
SOUTH AMERICA CONTINUES TO RISE
A GLOBAL GROUP 2011
2020