The Volvo Group is a multinational Swedish company that produces, distributes and sells trucks, buses, construction equipment and financial services with its headquarters located in Gothenburg. In its 2016 fiscal year, trucks composed the Volvo Group’s largest share of net sales at 22 billion U.S. dollars, followed by construction equipment at 5.6 billion and buses at 2.8 billion U.S. dollars. Net sales totaled 302 billion Swedish kronor in the fiscal year of 2016. Most likely due to the economic crisis, the Volvo Group’s operating income suffered in 2009, but has been in the positive ever since. With the company’s headquarters located in Sweden, Europe is the region composing the greatest share of net sales with 38 percent, followed by North America with 27 percent and Asia with 18 percent. The company is also one of the top leading truck manufacturers in the world, trailing only Germany’s Daimler and VW-MAN-Scania, as well as Dongfeng and FAW of China, and India’s number one truck manufacturer Tata.
The Volvo Group ranks as the sixth largest construction equipment manufacturer in the world, with a 4.5 percent market share. In FY 2016, the company employed over 94,914 people mainly located in Sweden and the rest of Europe but also employing a large number of people in Asia, North America and other markets.
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