Volvo Group has released its Annual Report for 2025, detailing the company’s performance and strategic focus during a period marked by continued economic challenges. The report is available on the company’s website.
In 2025, Volvo Group continued to renew its product lineup across all business areas, aiming to provide more efficient products and solutions for customers. However, the company faced ongoing market downturns that began in 2024, resulting in lower volumes of new vehicles and machines. Geopolitical tensions also contributed to a weaker global economy.
“In this period of weaker demand in our key regions and with increased uncertainty about the future, we focused on what we can impact. We adjusted our operations, applied strict cost control, remained firm on our commercial conditions and continued to develop our service business. Thanks to hard work by colleagues across the Volvo Group and at our business partners along the value chain, the underlying performance remained solid. With our fuel-efficient and competitive lineup of products and services across the business areas, we are well-positioned to capture growth in the next cyclical upturn,” said Martin Lundstedt, President and CEO.
The company reported net sales of SEK 479.2 billion for 2025, representing a 3% decrease from 2024 when adjusted for currency effects. This decline was primarily due to reduced vehicle sales; however, Volvo’s service business showed strong development. Despite lower volumes overall, Volvo maintained resilience in earnings with an adjusted operating income of SEK 51.2 billion compared to SEK 65.7 billion in the previous year. The adjusted operating margin stood at 10.7%, down from 12.5% last year but supported by positive results from service operations.
“I would like to extend a heartfelt thank you to all colleagues and business partners for yet another year of hard work and dedication to fulfilling our mission of driving prosperity through transport and infrastructure solutions. Together, we contribute to shaping the world we want to live in with economic growth, increased living standards and a sustainable development of society,” Lundstedt added.
Founded in 1927 and headquartered in Gothenburg, Sweden, Volvo Group provides trucks, buses, construction equipment as well as power solutions for marine and industrial applications worldwide. The company employs nearly 100,000 people across almost 180 markets globally. In addition to manufacturing vehicles and machinery, Volvo offers financing options and services aimed at increasing customer uptime and productivity.
For further information or media inquiries regarding the annual report or other matters related to Volvo Group’s activities throughout 2025, journalists may contact Claes Eliasson, Head of Media Relations.
Further details about Volvo Group’s operations can be found at their official website: www.volvogroup.com.
