AB Volvo (Volvo) provides commercial transport solutions. The company also manufactures and sells equipment for the construction market and drive systems for marine and industrial applications. The company also provides industrial information technology (IT) solutions, logistics solutions and support services such as roadside assistance, fuel management, and driver training. The company manufactures a wide range of medium-heavy to heavy trucks for regional transport, long-haul and construction operations under the Volvo, Renault Trucks, Mack Trucks, and UD brands. Volvo operates production facilities in several countries and markets its products worldwide, including Sweden, France, Japan, the US, China, Brazil, and South Korea. Volvo is headquartered in Gothenburg, Sweden.
Headquarters
Sweden
Address
Gropegardsgatan 2, Goeteborg, 41715
Website
www.volvogroup.com
Telephone
46 31 660000
No of Employees
86,750
Industry
Automotive
Ticker Symbol & Exchange
VOLV B (STO)
Revenue (2023)
$43.4B
10%
(2023 vs 2022)
EPS
XXX
Net Income (2023)
XXX
69.7%
(2023 vs 2022)
Market Cap*
$40.1B
Net Profit Margin (2022)
XXX
54.3%
(2023 vs 2022)
* As of and is in US$
Access premium data and analytics for AB Volvo
Products and Services
| Products | Services | Brands |
|---|---|---|
| Trucks | Customer financing | Volvo |
| Buses | Insurance services | Renault Trucks |
| Components for aircraft and rocket engines | Treasury operations | UD |
| XXX | XXX | XXX |
| XXX | XXX | XXX |
| XXX | XXX | XXX |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Financing Agreements | In January, the company invested US$6.3 million in the Arvika factory in Sweden. |
| 2023 | New Products/Services | In January, Volvo Construction Equipment unveiled its latest addition to its growing portfolio of electric machines and its first for the road segment with the DD25 Electric asphalt compactor. |
| 2023 | Product Recall | In January, the company recalled more than 27,000 vehicles because of lose the antilock brake systems, electronic stability control systems, traction control systems and other functions. |
Competitor Comparison
| Key Parameters | AB Volvo | Volkswagen AG | Mercedes-Benz Group AG | Deere & Co | Caterpillar Inc |
|---|---|---|---|---|---|
| Headquarters | Sweden | Germany | Germany | United States of America | United States of America |
| City | Goeteborg | Wolfsburg | Stuttgart | Moline | Peoria |
| State/Province | - | - | Baden-Wurttemberg | Illinois | Illinois |
| No. of Employees | 86,750 | 674,907 | 173,000 | 75,550 | 107,700 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Carl-Henric Svanberg | Chairman | Executive Board | 2012 | 70 |
| Martin Lundstedt | Director; Chief Executive Officer; President | Executive Board | 2016 | - |
| Tina Hultkvist | Chief Financial Officer; Executive Vice President | Senior Management | 2022 | 48 |
| Scott Rafkin | Chief Digital Officer; Executive Vice President | Senior Management | 2020 | 53 |
| Andrea Fuder | Chief Purchasing Officer; Executive Vice President - Trucks Purchasing | Senior Management | - | 55 |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
| Non Dignissim Eros | Proin vel | Convallis | 2023 | XX |
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