Volvo CE reports Q2 organic growth despite sales decline

A picture taken at the recent Volvo Days, which was the largest event in the company’s history. Image: KHL

Sales in Asia declined by approximately 50% but grew in Europe, North America and South America compared to the same quarter last year. Sales declined slightly in Africa and Oceania.

Despite net sales declining, the OEM said that its organic sales growth was 13%, of which net sales of machines increased by 14% and service sales increased by 9%.

“It’s been a positive quarter that demonstrates growth in organic sales and continued stability driven by a strong product mix,” said Melker Jernberg, President of Volvo CE.

“We continue to grow our total offer while maintaining our focus on long-term investments and innovation to transform our industry.”

Volvo CE added that the European market showed increased demand, supported by continued infrastructure investments, good machine utilisation and a healthy level of fleet replacement while North America continued to show good resilience, driven by data centers, energy infrastructure and the onshoring of manufacturing.

The OEM said that the South American market had been driven by Brazil, Colombiaand Peru, while in Asia, Indonesia continued to grow on the back of sustained infrastructure investments.

In the second quarter of the year the OEM held its Volvo Days 2026, which became the largest event in the company’s history, welcoming more than 8,000 visitors to Eskilstuna, Sweden.

The quarter also saw the groundbreaking of Volvo CE’s new excavator factory in Eskilstuna, Sweden, and the deliverery of the world’s first serial produced A30 Electric articulated haulers to customer LNS in Norway following the start of serial production.