Volvo Rents last week said revenue for its North American franchise network grew 16 percent year over year to $143.5 million, compared with the first six months of 2007.

“We are fortunate to continue our growth at a double-digit pace in a challenging economic environment,” said Barry Natwick, president and CEO. “Our local ownership model, powered by independent owner groups in North America, has enabled us to retain and grow our business with the industry’s best customers. We expect our network to grow fleet capital expenditures as we continue to expand our business. Our store owners and our corporate team work hard to diligently provide customers with state-of-the-art equipment and VIP service.”

Volvo Rents now has 155,000 customers and has recorded 1.15 million rental transactions since its launch by Volvo Construction Equipment in 2001.

Volvo Rents has 82 equipment rental centers open in North America, 72 centers in Europe (Spain, Portugal, Italy, Germany, Poland and Austria), and one in its international region (Mexico). Based in Asheville, N.C., Volvo Rents is No. 17 on the RER 100.