Volvo 2014 Annual Report Download - page 74

Demand was good in North America and Japan as
a result of the economies developing well. On the
other hand the European market showed little or
no growth and the South American market was
weak with the main market in Brazil declining
sharply as a consequence of lower GDP growth. After a weak
2013, the heavy-duty truck market in India rebounded while the
Chinese market declined.
Varying market conditions
In 2014, the heavy-duty truck market in Europe 30 (EU plus Nor-
way and Switzerland) declined by 5% to 227,600 trucks com-
pared with 240,400 in 2013 when demand was strong as an
effect of prebuys of Euro 5 trucks ahead of the new emissions
regulations Euro 6. For 2015 the total market is expected to be at
a level of about 240,000 heavy-duty trucks.
In 2014, the total North American retail market for heavy-duty
trucks increased by 14% to 270,300 vehicles (236,800). For
2015, the total market is expected to reach a level of about
310,000 heavy-duty trucks.
In 2014, the Brazilian market decreased by 11% to 92,700
heavy-duty trucks (103,800). For 2015 the total market in Brazil
is expected to continue to decline to about 75,000 heavy-duty
trucks.
In Japan the total market for heavy-duty trucks rose by 25% to
42,200 vehicles (33,800). The Japanese market for medium-duty
trucks grew by 27% to 46,200 trucks (36,400). For 2015 the
total market in Japan is expected to be at a level of about 40,000
heavy-duty trucks and 45,000 medium-duty trucks.
In India, the total market for heavy-duty trucks grew by 18% to
154,800 trucks (131,700). On the other hand, the total Indian
market for medium-duty trucks declined by 18% to 62,300 trucks
(76,300). For 2015 the total market in India is expected to reach
a level of about 160,000 heavy-duty trucks and about 73,000
medium-duty trucks.
In China, the total market for heavy-duty trucks declined by 4%
to 743,700 vehicles (773,900). The total market for medium-duty
trucks declined by 15% to 243,500 vehicles (286,400). For 2015
the total market in China is expected to reach a level of about
730,000 heavy-duty trucks and 220,000 medium-duty trucks.
During 2014 market conditions varied signifi cantly
between different parts of the world.
CONTINUED
PRODUCT RENEWAL AND
RESTRUCTURING
TRUCKS
Facts The truck operation’s product offer stretches from heavy-
duty trucks for long-haulage and construction work to light-duty
trucks for distribution. The offering also includes maintenance and
repair services, fi nancing and leasing.
Position on world market Volvo Group is the world’s second
largest manufacturer of heavy-duty trucks.
Brands Volvo, UD Trucks, Renault Trucks, Mack and Eicher.
As of January 2015, Dongfeng is also included.
Number of regular employees 58,067 (58,542)
Share of Group net sales, % 67
(65)
BOARD OF DIRECTORS’ REPORT 2014
GROUP PERFORMANCE
During the year Volvo Trucks launched
I-Shift Dual Clutch, the fi rst transmis-
sion on the market with a dual clutch
system for heavy vehicles. Thanks to
power-shift gear changes without any
interruption in power delivery, torque
is maintained and the truck does not
lose any speed during gear changes.
For the driver, the result is more comfort-
able and effi cient progress on the road.
I-Shift Dual Clutch is a transmission con-
sisting of two input shafts and a dual clutch. This
means that two gears can be selected at the same time. It is the clutch
that determines which of the gears is currently active. I-Shift Dual Clutch is
based on I-Shift, but the front half of the gearbox has been redesigned
with entirely new components. Trans-
missions with dual clutches are
already used in cars, but Volvo
Trucks is the fi rst manufacturer
in the world to offer a similar
solution for series-produced
heavy vehicles.
Volvo Trucks
launches unique
gearbox
70