Construction industry insights provider EquipmentWatch has once again recognized Volvo Construction Equipment with Lowest Cost of Ownership and Highest Retained Value awards.
For the sixth year in a row, Volvo CE products have received awards from EquipmentWatch.
EquipmentWatch, the leading data researcher in the heavy equipment industry, recognized Volvo machines in three different categories of wheel loaders and one category of articulated haulers. Volvo large wheel loaders, medium wheel loaders and articulated haulers each earned the Highest Retained Value award, while Volvo compact wheel loaders earned the Lowest Cost of Ownership award.
“Here at Volvo, we spend countless hours designing durable machines aimed to help customers make more money,” said Stephen Roy, President of Region North America, Volvo CE. “That includes helping them lower their total cost of ownership and resell machines that still have a lot of value. It’s good to know that EquipmentWatch keeps a close eye on this type of OEM innovation and design.”
The EquipmentWatch annual awards are based on extensive analysis of millions of data records. New for 2021, the award format covers overall machine categories instead of individual models by manufacturer.
The Highest Retained Value winners represent product class categories within equipment types projected to retain the highest percentage of original value after a five-year period.
The Lowest Cost of Ownership Award winners represent product class categories within equipment types that have the lowest five-year total cost of ownership. The ranking factors in costs over the entire life of each machine including maintenance, repairs, fuel expenses and potential downtime.
The recognition for Volvo is the result of numerous product innovations and designs. For example, large and medium wheel loaders include money-saving features like Reverse by Braking that slows a machine down when an operator wants to change direction. It reduces engine rpm and automatically applies the service brakes to reduce stress on the drivetrain and extend component life. Volvo articulated haulers offer a similar braking feature — a load and dump brake — that allows for a much smoother transition to reduce wear and tear on the driveline.
Volvo compact wheel loaders help reduce operating costs by keeping downtime to a minimum, with ground-level greasing points, best-in-class components and long service intervals.
In addition to equipment features, Volvo offers several services that help machines retain their value and contribute to lower total cost of ownership, including ActiveCare® Direct advanced telematics, a Lifetime Frame and Structure Warranty, a Fuel Efficiency Guarantee and the Volvo Certified Used program. ActiveCare Direct is especially useful at supporting lifecycle values by giving owners insights that can help reduce fuel consumption, unplanned maintenance, operator errors and excessive hours caused by unnecessary idling.
“The EquipmentWatch analysts are excited to mark the 6th year of the Highest Retained Value and 4th year of the Lowest Cost of Ownership awards,” said Jessica Carr, Director of Data and Analytics at EquipmentWatch. “The team continues to react to market dynamics, fine-tune the analysis and expand our database. To see so many repeat winning manufacturers — in light of our deepened insight — is a testament to how well their equipment holds its value.”