VOLVO CE has confirmed that global sales dropped 8% in the first quarter of the year, compared to the ‘historically high’ levels of the same period of 2024.
The manufacturer said this is in line with the industry’s ‘overall decline’. While South America and Asia saw a growth in their markets, lower volumes in Europe and North America are driving the shortfall, which Volvo said is largely due to increased geopolitical and market uncertainty.
The firm added it has maintained a ‘steady’ performance during this period, while still investing in new technologies. Though machine sales are down for Q1, the company has seen a rise in service sales.
Melker Jernberg, head of Volvo CE, said, “As a global company we are understandably affected by these turbulent times, but we have shown resilience in the face of uncertainty and maintained a solid performance today, while moving in the right direction for tomorrow. Our industry’s transformation may be slower than we would like, but our commitment remains strong as we continue to invest into building a better world for all – as demonstrated by our pioneering 100% zero-emission lineup at the recent bauma show.”
In Q1, 2025, net sales decreased by 8% to SEK 21,117 M (22,877). When adjusted for currency movements, net sales of machines decreased by 10% and service sales increased by 2%.
However, global deliveries rose 12%, driven largely by increases in South America, Asia and Africa and Oceania – and despite a drop in Europe and North America. Net order intake also increased by 24% with improvements in all markets except South America. In Europe, Volvo attributed this to dealer inventory levels coming down and end customer sentiment improving.
The manufacturer has enjoyed a busy start to 2025 with the rollout of its new generation articulated haulers – and the introduction of a new A50. Volvo CE also announced a partnership with Unicontrol to integrate its 3D machine control technology into excavators.
A recent focus was the company’s all-electric lineup at bauma 2025, including the unveiling of the world’s first electric articulated hauler of its size class, the A30 Electric, which will reach selected customers in Europe in 2026 alongside the new A40 Electric articulated hauler.
