Volvo CE Sales Drop 8% in First Quarter
First-quarter sales for Volvo Construction Equipment dropped 8% to about $2.2 billion, compared to Q1 2024 sales of about $2.4 billion.
The global manufacturer said the sales figures were compared to “historically high levels,” and were “in line with the industry’s overall decline.”
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“As a global company we are understandably affected by these turbulent times, but we have shown resilience in the face of uncertainty and maintained a solid performance today, while moving in the right direction for tomorrow,” said Melker Jernberg, head, in a statement. “Our industry’s transformation may be slower than we would like, but our commitment remains strong as we continue to invest into building a better world for all—as demonstrated by our pioneering 100% zero-emission lineup at the recent Bauma show.”
Volvo CE said the total machine market was flat compared to the previous year with Asia, including China, and South America growing while Europe and North America contracted. Europe declined 18%, and North America declined 14% due to repositioning of fleets and market outlook uncertainty.
The Chinese market improved by 42% on the back of governmental policies to stimulate the real estate and construction segments. Orders for SDLG-branded machines improved 30% driven by the Chinese market.
