Press releases 2008
| The Swedish National Tax Board has announced a review decision in an internal pricing issue to AB Volvo’s American subsidiary Mack. The decision results in an increased taxable income for AB Volvo for the years 2002 and 2003 totaling SEK 828 M, corresponding to tax of SEK 232 M. In addition, the Tax Board levied a tax surcharge of SEK 83 M. As a result of the decision, Volvo has been placed in a double taxation position. |
| At Tuesday’s Investor Day in New York, Volvo’s President and CEO Leif Johansson announced that the global recession had forced the Group to adapt all of its operations to today’s significantly weaker demand. |
| Total deliveries of trucks from the Volvo Group’s truck operations in October amounted to 22,136 which is a decrease of 12%, compared with the year-earlier period. |
| Politicians and policy-makers all over the world struggle to stabilize the global financial system. But perhaps regulations and command-and-control won’t do much good. Instead, governments should take a closer look at the research on resilience – the capacity of an eco-system to cope with shock and then rebuild and renew itself. |
| Volvo Buses has received its first order for the company’s new hybrid bus, Volvo 7700 Hybrid. Sales-Lentz, a bus operator in Luxembourg, has ordered six hybrid buses with delivery starting in 2009. |
| After a first and second quarter with record sales and record income, sales growth decelerated much more rapidly than expected during the third quarter, as visible in the reported earnings. The downturn in the economy has been significantly exacerbated by the global financial crisis. |
| Volvo Construction Equipment, that earlier this autumn announced a notice of redundancy to 500 employees in Sweden, is today giving notice to an additional 850 employees in Sweden. This is due to the slow down of the global construction equipment market. |
| The important testing of Volvo Aero composite technology in EU’s VITAL environmental project has been successful. |
| For the second consecutive year, the Volvo Group has been chosen as Sweden’s most attractive employer by the country’s young engineers, according to Universum’s annual Career Barometer survey. Strong corporate culture and international career possibilities are factors differentiating the Volvo Group from other companies and which contribute to the Group’s continued top ranking. |
| At a meeting in Chicago last Wednesday, the US Environmental Protection Agency (EPA) recognized the Volvo Group’s US subsidiary Mack for the company’s successful efforts in significantly reducing the emission of greenhouse gases. |
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