Volvo Construction Equipment posted sales of approximately $10.0 billion in 2023, up 4.7% over its sales in 2022. Sales in the fourth quarter fell 4%, the company said, driven by weaker markets across many regions of the world. Despite a 6% drop in equipment sales, service sales grew 6% for the quarter.
“The progress and milestones we have made in 2023 will prepare us for the challenges of 2024,” said Melker Jernberg, president, in a statement. “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.”
For North America, Q4 sales grew 14.7%. For the year, Volvo CE sold about $2.8 billion in North America, up 32.7% over 2022.
About the Author
Rod Sutton
Sutton served as the editorial lead of Construction Equipment from 2001 through 2025.