Volvo Trucks has claimed the top spot in the European heavy-duty truck market for vehicles over sixteen tons, achieving a 17.9% market share in 2024. The company’s most substantial sales were recorded in the United Kingdom, France, Germany, Poland, and Spain during this period.
Roger Alm, President of Volvo Trucks, expressed his pride in the achievement, stating, “We are very proud to be the market leader in Europe. This is clear proof that our customers appreciate the fuel efficiency, safety, and uptime of our trucks and that we have a very attractive product offering.”
“Our new FH Aero trucks that were launched in 2024 are just outstanding. These trucks are available with electric, gas and diesel powertrains and they have quickly become very popular on the market. Transport companies choose Volvo because our products and services help them grow their business and reduce CO2. I wish to extend a big thank you to our customers for their trust in us, and also to our dealers, suppliers and our colleagues within the Volvo Group for this achievement.”
Volvo Trucks’ success extended beyond Europe in 2024, with market share gains in twenty-five countries worldwide. The company maintained its three-year streak as the market leader in the heavy-duty segment in Brazil with a 23.7% share. The Volvo FH model emerged as the best-selling truck across all brands in the Brazilian market. The company also demonstrated strong performance in Australia, capturing an 18.2% market share. It was no different in North America, achieving a 10.5% market share from the 10.2% the previous year.
Volvo Trucks secured a 17.6% share of the overall heavy-duty truck market (sixteen tons and above) in South Korea. The company dominated the imported commercial vehicle segment with a nearly 40.4% market share. In the domestic market, Volvo achieved impressive market shares of 32.6% for tractors, 50.0% for dump trucks, and 40.5% for large cargo trucks.
Alm highlighted the company’s global strategy, noting that 2024 marked a significant year for Volvo Trucks with a comprehensive revamp of their global product portfolio. He detailed introducing a new vehicle platform in North America, targeting aggressive expansion in this key market. Alm explained that this platform will be the foundation for various innovative models in the coming years. The new Volvo VNL, the first model based on this platform, delivers up to 10% better fuel efficiency than its predecessor, setting a new benchmark in the industry.
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