February 3, 2020, Shah Alam – Volvo Malaysia, the official distributor of Volvo Trucks in Malaysia, has sold a record breaking 479 units of prime movers and rigid trucks last year.
The sales record is the company’s best sales performance in 50 years of business operation in Malaysia. The figures represent a 6.5 percent increase, from 450 units sold in 2018.
Out o the total trucks sold in 2019, more than 70 percent are of the Volvo FM models, while the rest were made up of Volvo FMX and FH models.
“We are extremely pleased to have achieved such a remarkable and record-breaking overall result for the year, despite some market challenges, such as the changes in regulations, more intense competition and stringent loan approval.
“Our sales volume increased despite the local heavy-duty truck market having experienced a decline by an estimate of 13 percent. Our sales performance is a positive sign of Volvo Trucks’ continuous and sustained growth in Malaysia, enabling us to start the new year with stronger momentum and energy,” said its managing director Mitch Peden in a statement.
Based on the data released by Malaysia Automotive Association (MAA), its performance helped increase its market share in the prime mover segment to 26 percent in 2019, in spite of the stagnant growth for prime mover segment last year.
According to Volvo Trucks, its sales volume has been growing in the past 10 years with a compounded annual growth rate (CAGR) of 13 percent since 2010, and taking a leading position in the prime mover segment.
“Our stellar truck sales performance in 2019 is the fruit of our labour from all the continuous commitments we have underscored in conjunction with Volvo Trucks’ 50 years’ anniversary in Malaysia. It is a very significant achievement for us, which is partially supported by fleet replacement exercises by several of our key customers,” Peden said.
In conjunction with its 50 years’ anniversary, the company had also introduced several improvements on product and service quality for enhanced after market support. Among those were the launch of Volvo Uptime Promise, the first-in-the-market feature for its Gold Service Agreement customers. This unique benefit provides monetary compensation to customers who has a truck on a breakdown time that exceeds Volvo Trucks’ 12 hours committed time to put the truck back on the road.
“The introduction of Volvo Uptime Promise has helped to strengthen our aftermarket offers and value proposition in the market through the Gold Service Agreement, and this is one ot the important contributors to our success last year. Eventually, truck uptime is very crucial for transport operations and we are very committed to help our customers maintain this aspects,” said Peden.
Volvo Uptime Promise also includes effective planning and prediction of truck component wear and tear, enabling Volvo Trucks to proactively help their customers plan truck maintenance schedule.
“Last year, our management team took the opportunity to visit many of our key customers in various part of Malaysia and to celebrate our 50 years’ anniversary with them. We recognise the importance of customer engagement and we want to understand their business needs and further strengthen ties,” Peden said.
Peden shared that many of Volvo Trucks’ key customers in Malaysia have grown together with the company through repeated purchases.
He attributed their support and trust to Volvo Trucks’ continuous improvement in enhancing quality deliverables for its products and services, and consistent aftermarket support through all its 13 dealers in the country.
This also include value-added features that offers 300,000km warranty and 24 months’ fitted parts warranty and financing scheme by Volvo Financial Service (VFS) with 2.88 percent special interest programme for customers who fulfilled selected criteria.
In addition, last year the company also introduced two other features in its product offering, the Volvo Torque Assist (VTA) and Active Safety Package, which help to improve on fuel efficiency and streamline the execution of safe driving on the road respectively.
” We want our customers to know that we truly value their loyalty and support and that Volvo Trucks is committed to be their long-term partner. The strong relationship that we have built with our customers is without a doubt, a very significant factor to our success. We continue to look forward to progress into this new decade with them,” said Peden.