Resilient performance for Volvo CE in Q3 2024

Overall net sales for Volvo CE have decreased as a result of lower third-quarter volumes in North America and Europe compared to the extremely high levels of the previous year. Nevertheless, in spite of this sluggish demand, it has managed to retain high margins overall and has supervised the expansion of the Chinese market. The company has also supported customers this quarter by striking a balance between its increased focus on change and today's problems.
Compared to the high earnings of SEK 24,296 M for the same quarter last year, net revenues in Q3 2024 fell by 23% to SEK 18,809 M. Once again demonstrating the market's rising interest in digital solutions, net sales declined by 20% when corrected for currency fluctuations, with machine net sales falling by 24%. Service sales, on the other hand, climbed by 2%.
Nonetheless, there has been a little increase in net order intake, mostly due to a 59% increase in South America and a 44% gain in Europe, which has been reinforced by a more moderate growth in every other region except North America. Due in part to higher deliveries for the SDLG brand in China, global deliveries decreased from the previous year as a result of the ongoing decline in market demand and the reduction of stocks at the dealerships in North America and Europe.