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Comments on third quarter
“In Q3 2024, demand continued to normalize on most of the Volvo Group’s markets. We are seeing that freight and construction activity has come down in many regions across the world compared with the very high levels of last year. Our net sales decreased by 7% when adjusted for currency and amounted to SEK 117.0 billion (132.3). Sales of vehicles were 11% lower than last year while sales of services remained resilient and increased by 4%. We continued to generate good profits on the lower sales volumes with an adjusted operating income of SEK 14.1 billion (19.3) and a margin of 12.0% (14.4) thanks to hard work by our colleagues and business partners,” says Martin Lundstedt, President and CEO.
The Volvo Group report on the third quarter 2024 was published on October 18, 2024.
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Since 1927, Volvo has developed from a small local industry to one of the leading suppliers of commercial transport and infrastructure solutions providing products such as trucks, buses, construction equipment, and drive systems for marine and industrial applications.