Driving profitable growth

The health, safety and wellbeing of people is our main priority. We have a vision of zero accidents involving our products and in our own operations. We work proactively to provide safe and sustainable conditions across our value chain.

We are committed to a fossil-free future with net-zero emissions from our products and operations. Together with governments, customers and partners we work actively with the transition to a sustainable society.

By increasing productivity, both our customers and ourselves can do more with less and secure competitiveness. It will also be possible to meet the growing need for transportation while staying within the boundaries of what our planet can sustain.

1. Secure strong positions in key markets with focus on North America

Thanks to competitive products, strong dealers with extensive service networks and commercial excellence, the Volvo Group has established leading positions globally. We leverage our global presence and scale to capture new business opportunities and increase profitability. We focus on areas with highest value potential and to win where it matters the most. Strong market positions are enabled by our regional value chains that drive supply chain performance, profitability and operational efficiency while staying close to customers.

2. Reach the full potential of the service business

Our service business is highly profitable, building strong customer relations and loyalty. Recurring service revenues create stability and resilience throughout the business cycle. We will focus on the untapped potential of the service business, both in terms of market share and in terms of shaping the service portfolio to benefit our customersʼ uptime and productivity. Our large running population of almost 3 million vehicles and machines represents a significant potential for the service business. 

3. Lead the transformation

Volvo Group drives prosperity through the transformation, both from a sustainability and growth perspective. Our electric solutions increase our value proposition to customers and respond to the need for transport and infrastructure solutions that are safe, sustainable and more productive. We have a strong market position in electric vehicles and machines, with a combined market share of 70% in heavy-duty electric trucks in Europe in 2024, and we will leverage this advantage to improve our positions in key markets. Our ambition is to continue to develop and commercialize a leading zero-emission offer. In many markets we are driving the adoption of electric vehicles and machines together with partners and customers. 

4. Drive product leadership and synergies across the Group

Through our very competitive line-up of vehicles and machines we drive strong market positions and deliver high customer value. We strive to push technological boundaries to meet our customers' needs, stay competitive and drive the transformation. Our different businesses are built on the same technical and industrial foundation and we achieve synergies and cost efficiency across our industries. Our modular vehicle architectures create flexibility as well as cost and capital efficiencies in research and development as well as in the industrial system. The ambition with the Groupʼs modular platform Common Architecture & Shared Technology (CAST) is the continuous development of a competitive set of modular products and services that are easy to integrate, meet future legal, market and societal needs, as well as the unique expectations of every customer. The CAST system supports our different brand strategies across disruptive technology trends and allows each brand to excel within its segment. 

5. Create value through portfolio management

We have many great businesses with different profiles in our portfolio. We actively allocate capital and attention to maximize the future value potential of our company. We apply the same performance focus across the portfolio of businesses, products, services, markets, projects and ventures. By being disciplined in our capital allocation we are working to maximize the future performance of the Volvo Group.