Volvo Group - statistics & facts
The Volvo Group is a prominent global manufacturer of trucks, buses, and construction equipment. Based in Gothenburg, the commercial vehicle company recorded global revenue of 479.18 billion Swedish kronor in 2025, which marked the second consecutive year that the Group had a decrease in revenue. Accordingly, the Group's operating profit has also suffered: in 2025, operating profit decreased by 28 percent from the previous year and stood at 37 percent lower than the figure recorded in 2023. The Group's global workforce has also experienced a downturn, going from 91,372 in 2024 to 88,000 employees in the following year.
Trucks anchor the business
When looking at the share of sales by segment, trucks are the dominant force in the Volvo Group, generating 323.46 billion kronor in net sales in fiscal year 2025. This was more than four times higher than the figure contributed by the second largest segment - construction equipment. However, sales volumes for trucks have also suffered in recent years, having decreased at around the same rate as revenue and operating profit: global truck deliveries dropped to 202.91 thousand units in 2025, down from 219.38 thousand units in 2024. Meanwhile, in construction equipment, Volvo held a 3.5 percent share of the global construction equipment market, trailing market leader Caterpillar at 15.9 percent.
A Europe-led, competitive market
In geographical terms, Europe accounted for 43 percent of the Volvo Group's sales in 2025, well ahead of North America's 29 percent. Among industry rivals also based Europe, there has likewise been a slowdown in financial performance, with Daimler Truck's annual revenue falling to 49.87 billion euros in 2025 from 54.08 billion euros in 2024. On infrastructure, the rivals have nevertheless cooperated: Volvo Group, Daimler Truck, and Traton jointly operate a public charging network, Milence, for battery-electric trucks across Europe, aligning with EU carbon-neutral freight targets.
A company-specific headwind, not an industry-wide downturn
Volvo Group's declining profit and delivery volumes are not mirrored across the broader commercial vehicle sector. In 2025, worldwide commercial vehicle production climbed to around 27.93 million units, up from 24.83 million units in 2024, a decade high following the pandemic-era slump. Meanwhile, North America remained the world's top vehicle-producing region, building roughly 13.15 million commercial vehicles that year. However, Europe's heavy truck output and Volvo's own research and development spending decreasing over the same period pointed to a regional and company-specific headwind rather than a sector-wide retreat. With trucks still generating the bulk of net sales and a diversified regional footprint, Volvo Group is positioned to benefit if European demand recovers in step with the broader global market.
