AB Volvo, the leading truck manufacturer in Europe and the third largest globally, has received a Neutral rating from UBS.
In 2023, the company reported net sales with truck sales accounting for 66.3% of the total, amounting to 246,272 vehicles sold under various brands such as Volvo, Renault, Eicher, and Mack. Construction equipment sales contributed 18.7% to net sales and included a range of machinery like excavators, loaders, and dump trucks. Financial services made up 4.3% of net sales, while bus and chassis sales represented 4%, positioning Volvo as the second-largest manufacturer in this sector. Sales of marine and industrial parts, control systems, and engines accounted for 3.7% and served various applications including commercial shipping and industrial uses.
Geographically, Volvo"s net sales were distributed with 42.8% from Europe, 29.8% from North America, 12% from Asia, 8.9% from South America, and 6.5% from Africa and Oceania. This diverse portfolio highlights Volvo"s significant presence in both the truck and construction equipment markets, as well as its global reach across multiple regions.