North America Sets Q3 Sales Pace for Volvo Trucks

Volvo Trucks reports a record third quarter in terms of sales despite the global turmoil in both logistics and economies.

Its president and CEO, Martin Lundstedt, highlights a 21% net sales increase of SEK 114.9 billion ($10.3 billion) in Q3 2022. The North American market sees the biggest uptick with an SEK 11.9 billion ($1.06 billion) increase in sales of Volvo and Mack trucks thanks to the nation’s high levels of economic activity plus the power of the strong dollar.

Despite continuing challenges, chiefly supply chain shortages and European energy prices, third-quarter income amounted to a record high, Lundstedt says. “So both for sales and operating income, it was the best ever Q3 as we continue to push boundaries to realize our strong back-order catalog and to build population amongst our customers,” he says.

Another area for future growth is Volvo Trucks becoming the world’s first automaker to start commercial production of 44-ton battery-powered trucks. “We continue to launch new sustainable transport solutions as we start serial production of the 44-ton heavy vehicle range,” Lundstedt says. “After this launch, Volvo Trucks’ electric portfolio could cover around 45% of all goods transported in Europe today.”

In a short film at the Tuve plant near Gothenburg, the automaker shows how its battery-electric trucks are assembled on the same lines as their diesel-powered siblings using the same assembly workers and the same tools to maintain a high degree of production flexibility.