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Volvo results declined in 2024 as CV market demand normalised

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By Bradley Osborne - 24th April 2025

Sweden – AB Volvo of Gothenburg, Sweden saw a slight decline in its financial results across the board, with its net sales falling by 3% to SEK527bn (approximately EUR46bn) in 2024.

The group achieved an adjusted operating income of SEK65,718m in 2024, a significant decrease from SEK78,155m in 2023. This provided an adjusted operating margin of 12.5% compared to 14.0% the year before. Vehicle sales fell by 5% in 2024, but income from services increased by 4% and represented a quarter of the group’s total revenue.

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