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“In a quarter characterized by a general stabilization of the European market and more of uncertainty and a wait and see mode among customers in North America, the Volvo Group's net sales declined by 5% adjusted for currency movements and amounted to SEK 122.9 billion (140.2). Sales of vehicles were 6% lower than in Q2 2024 when adjusted for currency, while the underlying service development remained robust, supported by continued good utilization of vehicles and machines. Our service sales were on the same level as in the previous year when adjusted for currency, and on a rolling 12-month basis revenues in our service business amounted to SEK 126.3 billion. On the lower vehicle volumes, we generated an adjusted operating income of SEK 13.5 billion (19.4) with an adjusted operating margin of 11.0% (13.9),” says Martin Lundstedt, President and CEO.
The Volvo Group report for the second quarter 2025 will be published on July 17, at 7.20 a.m. CEST. There will be a conference call for press and analysts starting at 9.00 a.m. CEST.
Press release
2025-07-01
Björn Nykvist awarded the Håkan Frisinger Prize for Excellence in Transportation Research
The Volvo Research and Educational Foundations (VREF) has awarded doctor Björn Nykvist, Senior Research Fellow and Team Leader in Energy and Industrial Transitions at the Stockholm Environment Institute (SEI), the Håkan Frisinger Prize for Excellence in Transportation Research for 2025. The prize includes an individual award of SEK 300,000 and a period as a guest researcher at Lund University with a grant of 500,000 SEK.
Press release
2025-07-01
Volvo Group invests further in the green transformation journey – acquires NOVO R&D
Volvo Group invests further in the green transformation journey by acquiring a state-of-the-art battery cell laboratory from NOVO Energy AB.
The number of votes in AB Volvo has changed due to the conversion of a total of 175,000 Series A shares to a total of 175,000 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
Lars Stenqvist, member of the Volvo Group Executive Board and Group Chief Technology Officer has decided to step down from his current role after nine years of service and continue in the Group as a senior leader. He will be replaced by Jens Holtinger, currently member of the Executive Board and Executive Vice President Group Trucks Operations.
Volvo Group’s engine plant in Skövde, Sweden, has been awarded up to €49 million from the EU Innovation Fund to support the CarbonSmart Factory project: SPACE. This initiative aims to advance Volvo’s transformation through net-zero innovation and clean technology.
Press release
2025-06-24
Volvo Construction Equipment refocuses its presence in China – divests its shares in SDLG
Volvo Construction Equipment (Volvo CE) has signed a contract to sell its ownership in China-based SDLG (Shandong Lingong Construction Machinery Co) to a fund predominantly owned by the Lingong Group (LGG) for SEK 8 billion (6 billion RMB.) The transaction is expected to have a positive effect of SEK 1 billion on operating income at the time of closing, subject to currency fluctuations. Going forward, Volvo CE will be targeting focused customer segments in China and enhance its utilization of the Chinese supplier eco system.
Volvo Construction Equipment (Volvo CE) has come to an agreement with Lantmännen to acquire the Swecon’s business operations in Sweden, Germany and the Baltics including Entrack. Volvo CE will pay 7 billion SEK for the acquisition, which is subject to regulatory approval. Closing of the deal is anticipated in second half of 2025.
Press release
2025-06-17
Volvo Group and Daimler Truck, two of the leaders in the commercial vehicle industry, announce the launch of Coretura AB, their joint venture aimed at transforming the commercial vehicle industry through a new software-defined vehicle platform and establishing a new industry standard. Coretura will enable Volvo Group and Daimler Truck and other future customers to provide differentiating stand-alone digital vehicle applications for their products.
Press release
2025-06-10
Volvo Construction Equipment announces strategic investment in global crawler excavator production
Volvo Construction Equipment (Volvo CE) announces a strategic global investment in crawler excavator production at three key Volvo CE locations to meet growing customer demands, mitigate supply chain risks through localized production and reduce reliance on long-distance logistics.
Press release
2025-05-28
Volvo achieves milestone with over 1 million tonnes hauled autonomously at Brønnøy Kalk
Volvo Autonomous Solutions (V.A.S.) has reached a major milestone in mining efficiency and productivity, successfully hauling over one million tonnes of limestone autonomously for customer Brønnøy Kalk in Norway. This achievement underscores the transformative impact of autonomous technology in the mining and quarrying industries.
Press release
2025-05-18
Andrea Fuder, Chief Purchasing Officer at Volvo Group has tragically passed away
Andrea Fuder, Chief Purchasing Officer and a member of the Volvo Group Executive Board since 2017, has tragically passed away following a short illness. Andrea led the global purchasing team and its ecosystem of supply partners through one of the most significant transformations the industry has ever seen, including navigating the pandemic, supply shortages, and an increasing volatile geopolitical landscape. She was instrumental in driving the Volvo Group transition towards more sustainable transport solutions.
The Assar Gabrielsson Foundation has awarded Marcus Borenäs as the winner in the basic science research category and Elizabeth Schepke as the winner in the clinical research category. The prize recipients are rewarded with SEK 100,000 each as extra research grants, administered by the Sahlgrenska Academy at the University of Gothenburg.
The number of votes in AB Volvo has changed due to the conversion of a total of 12,864 Series A shares to a total of 12,864 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
“In Q1, the Volvo Group’s net sales declined by 7% adjusted for currency movements and amounted to SEK 121.8 billion (131.2). Sales of vehicles were 9% lower than in Q1 2024 and as the quarter went by, there was increased uncertainty surrounding tariffs and their effect on global trade. The underlying service business continued to grow supported by good utilization of vehicles and machines in many markets across the world. Adjusted for the divestment of Arquus and currency our service business grew by 2% compared with Q1, 2024, and on a rolling 12-month basis we had service revenues of SEK 129.2 billion. The lower vehicle volumes affected our profitability, but we nonetheless generated an operating income of SEK 13.3 billion (18.2) with a margin of 10.9% (13.8),” says Martin Lundstedt, President and CEO.
The Volvo Group report for the first quarter will be published on April 23, 2025 at 7:20 a.m. CEST.
AB Volvo held its Annual General Meeting on April 2, 2025. The Meeting was held at Konserthuset in Göteborg, Sweden, with the option for shareholders to exercise their voting rights by advance voting (postal voting). Presentations by the Chairman of the Board and the President and CEO describing the work of the Board and the Volvo Group’s operations are available on AB Volvo’s website www.volvogroup.com.
The number of votes in AB Volvo has changed due to the conversion of a total of 7,640 Series A shares to a total of 7,640 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
The number of votes in AB Volvo has changed due to the conversion of a total of 10,000 Series A shares to a total of 10,000 Series B shares. The conversions were implemented with the support of the opportunity for Series A shareholders to request conversion of Series A shares to Series B shares which was entered in the Articles of Association at the 2011 Annual General Meeting.
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In the fast-evolving landscape of corporate–startup collaboration, the way we describe the three CampX programs plays a crucial role in shaping how they are perceived and how effective they can be. Therefore, two years after launching the CampX Incubator program in the hub in Gothenburg, Sweden we see a need to change the name to Venture Access to clarify the value we deliver.
This year’s Volvo Group Seasonal Gift – given on behalf of all employees to projects worldwide – focuses on “Youth Development”. The Seasonal gift aims to empower youth to not only navigate digital challenges, but also thrive in their personal, educational, and social lives.
In the dynamic environment of our truck production, an invention from Volvo Group researchers has been introduced setting a new standard for human and robot collaboration. The new automated transporters are a unique AI-powered solution with remarkably user-friendly design.
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Senior Vice President Media Relations,
Volvo Group Headquarters
Phone: +46 765 537229
E-mail: press@volvo.com
Senior Vice President Communications,
Volvo Group North America
Phone: +1 (336) 543-9094
Email: john.mies@volvo.com
Public Relation and Media Manager,
Volvo Group Australia
Phone: +61 436 681 117
Email: matthew.wood@volvo.com
