For the first time in history, Volvo Trucks has secured its position as the market leader for heavy trucks in Europe. In 2024, the company achieved a market share of 17.9%, with 56,331 Volvo trucks registered across the region. The top markets contributing to this success included the UK, France, Germany, Poland, and Spain.
“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,” said Roger Alm, President of Volvo Trucks.
The introduction of the FH Aero series in 2024 played a significant role in Volvo’s success. These trucks, available with electric, gas, and diesel powertrains, quickly gained popularity in the market. “Our new FH Aero trucks are outstanding. 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,” Alm added.
Expanding Global Market Share
Volvo Trucks expanded its market share in 25 countries in 2024. In Brazil, the company retained its leadership in the heavy truck segment for the third consecutive year, holding a 23.7% market share. The Volvo FH was also the best-selling truck model of all brands in Brazil.
In Australia, Volvo achieved an 18.2% market share, while in North America (U.S. and Canada), the company’s share rose to 10.5%, up from 10.2% in 2023. Volvo’s strong performance in North America was driven by the launch of a completely new platform, which will support a range of new models in the coming years. The first vehicle on this platform, the Volvo VNL, offers up to 10% better fuel efficiency compared to its predecessor.
“We stand stronger than ever thanks to the complete renewal of our global product portfolio in 2024,” Alm stated. “In North America, where we aim to significantly grow our business, we launched a completely new platform that will be the base for a range of new models.”
Defining Market Regions
For statistical purposes, Europe is defined as the European Union, including the UK, Norway, and Switzerland (EU30), while North America refers to the United States and Canada.
