Sales for Volvo Construction Equipment in North America jumped 14.7 percent in the fourth quarter, 32.7 percent for the full year. Sales in Europe increased 8.7 percent in the fourth quarter, 13.4 percent for the full year.
Volvo Construction Equipment posted SEK 26.578 billion in sales in the fourth quarter 2023, compared to SEK 27.596 billion in the fourth quarter of 2022, a 3.7-percent decrease. For the full year, Volvo increased 4.7 percent from SEK 100.261 billion in 2022 to SEK 104.961 billion in 2023.
For the full year 2023, Volvo CE has achieved an increase in annual net sales from 2022, despite a drop in sales for the last quarter, impacted as it has been by a weaker market landscape across many regions in the world. While global machine sales are slowing across the industry, service sales for Volvo CE have risen – once more demonstrating their increasing relevance. Europe, North America, Africa and Oceania are reporting steady but softening sales, while Asia and South America are seeing the biggest decline because of slower economic activity. While global net sales dropped in the fourth quarter, service sales increased by 6 percent.
It has taken further significant steps to decarbonize construction in 2023, by establishing net zero partnerships with customers such as CRH and Heidelberg Materials to help them reduce their operational emissions. The company has also continued its rollout of electric construction solutions and introduced zero-emission machines to new regions including Australia and UAE. In December, an agreement was reached for the Ammann Group to acquire Volvo CE’s global ABG Paver Business including ABG in Hameln, Germany. Still subject to regulatory approval, it is a move that will allow Volvo CE to focus its attention on developing sustainable solutions and future technologies.
“The progress and milestones we have made in 2023 will prepare us for the challenges of 2024,” said Melker Jernberg, president of Volvo CE. “There is no doubt our industry is coming into the new year faced with a weaker market landscape, but now more than ever we will show our ability to perform for today while transforming for tomorrow.”
