Strong Q3 margins for Volvo CE despite market slowdown

Catrin Jones Editor, Construction Europe

21 October 2024

Volvo Construction Equipment (Volvo CE) has announced that the company maintained robust margins in the third quarter of 2024, even as market conditions in Europe and North America weakened.

Net sales declined by 23% year-over-year to SEK 18,809 million (€1.6 billion), with machine sales down 24%. In contrast, service sales rose by 2%, reflecting a growing demand for digital solutions. Notably, order intake increased in South America (59%) and Europe (44%), despite softer demand elsewhere.

Q3 saw a…

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