Volvo Trucks
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Volvo Trucks reports record year in 2022

Feb. 10, 2023
The manufacturer last year delivered 145,195 trucks, representing a 19% year-over-year increase despite supply chain shortages, production disturbances

Volvo Trucks reports it delivered an all-time high of 145,195 trucks in 2022 in a record year for the manufacturer, despite the many pandemic-induced supply chain disruptions that continue to impact multiple industries.

Volvo said the 2022 total was a 19% increase from 2021, when it delivered 122,525 trucks, helping the company increase its heavy-truck market share in 41 countries.

“We had a fantastic year, considering the uncertain and difficult times we live in,” said Roger Alm, president of Volvo Trucks. “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 now has a market share of 18.2%, which is the highest ever, the company said. It also increased its market shares in North America and Australia, to 10.8% and 17.0%, respectively. In Brazil, Volvo Trucks increased its market share to 24.6%, making it the market leader there for the first time. 

“We successfully launched new products and services during the year, and we sold vehicles to many new customers, too,” Alm added. “The feedback we get from customers is that they really appreciate and value our high quality and fuel-efficient trucks, and also the professional and rapid support they get from our extensive dealer and workshop network. All of these factors contribute to their own profitability.”

Truck electrification

Volvo Trucks also reported beginning series production of its heavy-duty electric trucks in 2022. Deliveries of electric trucks now are showing a “positive and increasing trend,” the company said. The U.S., Germany, Netherlands, Norway, and Sweden are the biggest markets for Volvo’s electric trucks today.

”Many of our customers, both in Europe and in many other markets, 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.”