Volvo CE Adapts to Tougher Industry in Q2 2024

In the second quarter of 2024, Volvo CE reported continued industry transformation amid a slowdown in demand across many markets compared to the previous year. Earnings have been impacted by lower volumes in Europe and North America. However, a notable increase in order intake from Asia, particularly China, has driven a global growth of 9%.

In June, at its Volvo Days event, Volvo CE introduced its largest product renewal to date. This included new generations of excavators, the R60 and R70 Stage V rigid haulers for regulated markets, and zero-emission solutions such as the L90 Electric and L120 Electric wheel loaders, along with the EWR150 Electric wheeled excavator. These products are set for phased introduction over the next 12 months. Additionally, the company opened expanded facilities in Braås, Sweden, focused on advancing sustainable power sources for its articulated haulers.

“We continue to drive innovation and investments to remain at the forefront of the transformation to more sustainable solutions for the benefit of our customers, shareholders and society at large. It is a testament to our commitment to perform and transform that we are able to ensure profitability during challenging times while still setting the course for construction innovation.” said Melker Jernberg, President of Volvo CE.

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