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Volvo unit Renault Trucks expects revamp to boost market share
March 6, 2013 / 7:30 PM / 5 years ago

Volvo unit Renault Trucks expects revamp to boost market share

LYON (Reuters) - Renault Trucks, the French unit of truckmaker Volvo AB (VOLVb.ST), expects to increase its market share in 2013 after a revamp of its range of models, the company’s president said on Wednesday.

A logo is pictured on the Volvo booth during the second media day of the 82nd Geneva Auto Show at the Palexpo Arena in Geneva March 7, 2012. REUTERS/Denis Balibouse

The company has invested 2 billion euros (1.73 billion pounds) in the last five years on the new models, which will be presented on June 11.

“We think we will significantly increase our market share, notably in Russia, Germany and Eastern Europe,” Bruno Blin told reporters at Renault Trucks’ headquarters in Lyon, central-eastern France.

Blin also said orders have started to recover, especially in northern Europe.

With 51,500 vehicles sold last year, Renault Trucks was able to maintain its share of a truck market in decline of 8.3 percent compared with the previous year.

Reporting by Catherine Lagrange; Writing by Elena Berton; Editing by Grant McCool

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