Volvo 2015 Annual Report Download - page 79

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GROUP PERFORMANCE BOARD OF DIRECTORS’ REPORT 2015 GLOBAL STRENGTH
ASIA
• Net sales: SEK 53,470 M (52,076)
• Share of net sales: 17% (18)
• Number of employees: 17,046 (17,793)
• Share of Group employees: 19% (19)
• Largest markets: Japan, China, South Korea, Turkey and India.
• Continued decline in the important Chinese market for
construction equipment, which went down by a further 48%.
• Mixed development in the truck markets with India growing,
Japan and other developed markets being relatively stable and
China and Southeast Asia declining.
• Acquisition of 45% of the Chinese company Dongfeng
Commercial Vehicles completed in January 2015.
M (52,076)
(52,07
OTHER MARKETS
(Africa and Oceania)
• Net sales: SEK 19,955 M (21,481)
• Share of net sales: 6% (7)
• Number of employees: 2,430 (2,626)
• Share of Group employees: 3% (3)
• Largest markets: Australia, South Africa, Algeria, Morocco and Egypt.
• Demand in Australia continued to be negatively impacted by the
downturn in the mining industry.
• Turmoil in Northern Africa and low demand for commodities
affecting demand in the region.
• The South African market declined as a consequence of slow
economic growth.
The Group’s five
largest markets
The United States • France
United Kingdom • Japan
Canada
EUROPE
• Net sales: SEK 120,413 M (106,176)
• Share of net sales: 39% (38)
• Number of employees: 48,074 (50,833)
• Share of Group employees: 54% (55)
• Largest markets: France, the UK, Germany, Sweden and Norway.
• Registrations of heavy-duty trucks in Europe increased by
19%with a rebound in many markets.
• Good development in the aftermarket.
• Market share slightly down for Volvo and slightly up for
RenaultTrucks.
• The construction equipment market declined by 6% as
ofNovember.
77