2024 Q3: Volvo Group Experiences 7% Net Sales Decline, Vehicle Sales Down 11%, Cash Flow Strong at SEK 3.1B.
In Q3 2024, Volvo Group saw a 7% decline in net sales, totaling SEK 117.0 billion, with vehicle sales down 11%, while service sales rose 4%. Adjusted operating income fell to SEK 14.1 billion, reflecting a margin of 12.0%. Despite lower sales, the company maintained strong cash flow of SEK 3.1 billion and a return on capital employed of 38.3%. Volvo anticipates a slowdown in heavy truck demand, forecasting 290,000 vehicles in North America and 300,000 in Europe for 2025.
October 18, 2024
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