GOTEBORG, Sweden – Increased engine sales to the leisure marine market helped Volvo Penta achieve a 2-percent jump in total sales during the second quarter, the company reported in a recent statement.
Leisure marine sales increased from SEK 1,595 million last year to SEK 1,743 million this year, while both the marine commercial and industrial divisions saw decreased sales. Volvo Penta’s total sales were SEK 2,624 million during the quarter, compared to SEK 2,570 in the year-earlier period.
The company reported that overall demand for marine and industrial engines had weakened in Europe, strengthened in South America and remained unchanged in North America. North American sales were up 13 percent to SEK 787 million.
Operating income declined from SEK 307 million to SEK 302 million, while operating margin was 11.5 percent, compared to 11.9 percent last year.
Volvo Penta reported that its IPS drive system has been “very well received” with several boat builders launching new models featuring it and more coming this fall. In fact, the company said the market share gains it has achieved in both diesel and gasoline engines over the past several years continued during the second quarter.
The company plans several new product introductions in its leisure marine business during the third quarter, with five new engine for sail and displacement boats, as well as the D3-190 sport diesel engine and the D12-800.
- For more of the latest news, click here.