Record year for Volvo Trucks in 2022

Volvo Trucks said it executed the best performance in the company’s history in 2022. The global truck manufacturer delivered 145,195 trucks in 2022, an increase of 19% from 2021, when 122,525 trucks were delivered. Volvo Trucks also increased its market share in the heavy truck segment (≥ 16 tonnes) in 41 markets globally. The record deliveries and market share increase should be seen in the light of supply chain shortages that prevailed throughout the year.

Volvo Trucks said it had the best year in company history in 2022. (Photo: Volvo Trucks)

”We have had a fantastic year, considering the uncertain and difficult times we live in,” said Roger Alm, president Volvo Trucks in reporting the year’s results. “Despite supply chain shortages and disturbances in production, we managed to increase our volumes significantly and get the trucks out to our customers, so that they can grow and improve their business. This is thanks to our close collaboration with our suppliers as well as the hard work done in our own organization and at our dealers.”

In Europe, Volvo Trucks said it has a market share of 18.2%, which is its highest ever. Volvo Trucks is the market leader in several European countries. The company also increased its market shares in North America and Australia, to 10.8% and 17.0% respectively. In Brazil, Volvo Trucks said it increased its market share to 24.6% and became the market leader for the first time ever.

Working to electrify transport

Volvo Trucks started series production of heavy-duty electric trucks in 2022, which it said makes it the first global truck manufacturer to do so. Deliveries of electric trucks are now clearly showing a positive and increasing trend, the company said, with the U.S., Germany, Netherlands, Norway and Sweden the biggest markets for Volvo’s electric trucks.

“Many of our customers, both in Europe and in many other markets, have started the shift to electric during the year,” Alm said. “They clearly see that zero-tailpipe emissions transport is an increasing and exciting business opportunity. I’m very confident that this trend will continue and rapidly grow stronger in the coming years.”