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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.

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.

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.