4 things we learned from Volvo’s annual report
07 March 2024
A Volvo EC230 Electric excavator does work in Los Angeles, US, as part of a pilot program run by Skanska. (Image: Skanska)
Volvo Construction Equipment recently unveiled its 2023 financial results, with sales up by 1% on a currency-adjusted basis to SEK 105 billion (US$10.1 billion), making up 19% of Volvo Group’s total sales.
Following the publication of the group’s annual report, Construction Briefing has delved into the detail to come up with four things we have learned about how the world’s sixth-biggest OEM (according to the Yellow Table) is faring and its plans for the future:
1) Volvo committed to electric machines but sales are still under 1,000 units
Volvo has made its commitment driving a transformation in the business with the launch of several electric products and supporting services in more markets. The company said it would continue to invest in battery-electric and fuel-cell electric…
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