Volvo CE reports weaker 2025 sales despite improving demand in Q4

Volvo CE says it enters 2026 with “solid momentum”. Image: Volvo CE

For 2025 compared to 2024 sales for the OEM were up in Europe and Africa and Oceania, but down in North America, South America and Asia.

In the fourth quarter of 2025, net sales decreased by 16% to SEK18,692 million (US$2.12 billion) although its machines and services order intake increased by 18% in the same quarter, underpinning optimism for 2026.

The Swedish-based OEM said that in the final quarter the total machine market grew compared to the same quarter in the previous year. Europe, South America, Africa and Oceania, China and North America grew while Asia contracted.

Volvo CE added that Q4 2025’s positive product and market mix, together with an improved service business were partly offset by lower volumes, increased US tariff costs, and currency movements.

Volvo Construction Equipment, net sales by market area, in Millions of Swedish Krona (SEK). Image: Volvo CE

“Customer response to our new equipment has been strong across key markets, while our solutions offerings continue to gain traction,” said Melker Jernberg, Head of Volvo CE.

“We enter the new year with solid momentum and a clear focus on driving the industry’s transformation forward.”

The OEM also confirmed that, following the European Commission’s approval of Volvo CE’s planned acquisition of Swecon, the transaction is now in its final stages. Closing of the previously announced acquisition is expected on January 31, 2026.