Volvo reports 17% growth in 2023 net sales


By Bradley Osborne - 3rd April 2024

SwedenAB Volvo, a commercial vehicle manufacturer based in Gothenburg, Sweden, announced its financial results for 2023, reporting net sales of SEK552.8bn and an adjusted operating income of SEK77.6bn.

The group’s net sales grew by around 17% compared to the year before, when sales of SEK473.5bn were reported. In 2022, its adjusted operating income was SEK50,467. In 2023, Volvo achieved an adjusted operating margin of 14%, compared to 10.7% the year prior.

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