The Volvo Group - which includes Renault Trucks, Mack Trucks, Prevost, and Nova Bus - 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 financial results of Traton - which includes the MAN, Scania, International, and Volkswagen Truck & Bus brands - remained steady compared to the year before, with sales revenues improving by just 1% from EUR46,872m in 2023 to EUR47,473m in 2024.

The company recorded a 28% rise in profitability from 2023, and turnover rose from EUR 106 million in 2023 to EUR 161 million in 2024, an increase of 52 percent!

The group - including the DAF, Kenworth, and Peterbilt truck brands - achieved total revenues of USD33,663.8m in 2024.

Annual revenue declined by 32% from 2023 figures (USD 102.368 million) to USD 69.731 million. The net loss in 2024 (USD 324.245 million) almost doubled from 2023 (USD 177.716 million).

The company announced its 2024 financial report, with record full-year sales of USD 3.2 billion (2023: USD 3 billion), which increased the Earnings Per Share (EPS) to a record USD 8.31, up 12 percent from 2023. 2024 net income was USD 731 million, compared with 2023 figures of USD 673 million.

The company cut jobs, auctioned off spare parts, sold a portion of its business to Chinese battery manufacturer Gotion and shifted its business model towards an Original Equipment Designer (OED) model, focusing on design and development whilst outsourcing production.

The company announced 2024 sales figures of USD 10.3 billion, a decrease of USD 300 million compared to 2023 figures of USD 10.6 billion. Adjusted EBITA rose by USD 40 million, to USD 885 million in 2024 (2023: USD 845 million). Financially, the company is healthy with an operating cash flow of USD 476 million and a sales backlog of USD 650 million.

BorgWarner’s full-year financial year results included net sales of USD 14,086 million, a decrease of 0.8% compared to 2023 (14,198 million). Gross profit was up in 2024 with a figure of USD 2,648 million compared to 2023 figures of USD 2,568 million with an operating income of USD 1,417 million, or 10.1% of net sales.

Of the two divisions (CVS and RVS), Knorr-Bremse said the Commercial Vehicle Systems (CVS) Division’s revenues were down 13.9% due to unstable geopolitical and market conditions. 2024 revenues came in at EUR 3.84 billion (2023: EUR 4.18 billion). Order intake was down 14.6% at EUR 3.74 billion (2023: EUR 4.21 billion).

Hankook has published its 2024 financials with consolidated global sales of EUR 6,380.7 million, compared to EUR 6,329.5 million in 2023. Operating profit increased by 5.3 percent to EUR 1,194.6 million (2023: EUR 940.1 million) in 2024.

The Krone Commercial Vehicle Division generated EUR 1.58 billion in revenues, a decrease of 26.1% compared with 2023 figures of EUR 2.14 billion.