CEO Olof Persson presented a bullish worldwide forecast at ConExpo in Las Vegas as he stated that “all markets are going in the right direction.”

America and China are leading the way but Volvo reported improving market conditions across Europe.

The positive trading statement was backed-up by the showing of 16 new machines including the F-Series articulated hauler range, new B-series backhoe loader and D-Series excavators.

Persson confirmed a $100m investment in a new manufacturing plant in Shippensburg.

He said: “These are exciting times for Volvo Construction Equipment both in North America and globally.

“We are outperforming the improving market conditions by offering a young fleet of innovative products tailored to meet the needs of specific customer groups, combined with a strong and loyal distribution network and substantial investment programme.”