Volvo AB

Earnings data Q1 2021

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Volvo AB engages in the design, manufacture, and market of commercial vehicles. It operates through the following segments: Trucks, Construction Equipment, Buses, Volvo Penta, and Financial Services. The Trucks segment includes the production, development, and logistics for powertrain and parts. The Volvo Penta segment markets marine and industrial engines. The company was founded by Assar-Thorvald Nathanael-Gabrielsson and Erik Gustaf Larson in 1927 and is headquartered in Goteborg, Sweden.

Proterra Inc

Swedish truckmaker Volvo said on Friday it had won an auction for the battery business of troubled Proterra in the United States with a $210 million bid.

Truckmaker Volvo to buy Proterra's battery business for $210 mln

GOTHENBURG, Sweden , Nov. 10, 2023 /PRNewswire/ -- Proterra Inc. and Proterra Operating Company Inc. are in a voluntary Chapter 11 bankruptcy process in the US. Volvo Group has been selected as the winning bidder in an auction for the business and assets of the Proterra Powered business unit at a purchase price of USD 210M.

Volvo to acquire battery business from Proterra Inc. and Proterra Operating Company

Polestar Automotive Holding UK PLC

GOTHENBURG, Sweden , Nov. 8, 2023 /PRNewswire/ -- Volvo Cars welcomes the strengthened business plan announced by Polestar today, which aims to take the company into a new phase of growth and profitability. Please see the announcement from Polestar here.

Volvo Cars welcomes Polestar's strengthened business plan

BURLINGTON, Vt.--(BUSINESS WIRE)--Kearny Mesa Hyundai Earns Top San Diego Spot in Widewail Automotive Reputation Index; Volvo Cars San Diego Earns Top Luxury Ranking.

Kearny Mesa Hyundai Earns Top San Diego Spot in Widewail Automotive Reputation Index; Volvo Cars San Diego Earns Top Luxury Ranking

Chinese entrepreneur Li Shufu is pursuing global scale in the battery-electric vehicle market through his empire of interlocking companies and brands. His latest foray is the Volvo EX30, a small and affordable battery-electric vehicle that will be available in the U.S. starting at $36,000. Volvo's move toward becoming a "full electric" brand by 2030 and the success of other Geely-owned brands like Zeekr and Lynk & Co. highlight Li's innovative approach.

Volvo Brings Chinese-Built EX30 Battery-Electric SUV To U.S. To Attract 'Mainstream' Buyers

Volvo Cars' sales grew 10% in October from a year earlier to 59,861 cars, the Sweden-based group said on Friday.

Volvo Cars sells 10% more cars in October

Volvo Car Group's 3Q23 presentation shows that BEV gross margins improved from 3% to 9%. The new EX30 BEV model is expected to have gross margins of 15-20% and could be the first proof point of BEVs reaching cost parity. Concerns about BEV sales and delays with the EX90 BEV have affected Volvo Car's valuation.

Volvo Car: Why The New EX30 BEV Is Intriguing

Montreal, Quebec, Nov. 01, 2023 (GLOBE NEWSWIRE) -- Volvo Trucks North America customer Loblaw Companies Limited, the largest food and pharmacy retailer in Canada with well-known consumer brands and banners including President's Choice, No Name, No Frills and Maxi, has deployed two Volvo VNR Electric trucks to service its grocery stores in the Greater Montreal Area. The ultra quiet, zero-tailpipe emission Volvo VNR Electric trucks deliver cleaner air and reduced noise and will be leveraged to transport products to the company's stores in the Greater Montreal Area.

Volvo VNR Electric Trucks Deliver Zero-Tailpipe Emissions and Groceries for Loblaws, Canada's Grocery Retail Leader

Press release from the Volvo Environment Prize Foundation, Oct 30, 2023 GOTHENBURG, Sweden , Oct. 30, 2023 /PRNewswire/ -- The vast Amazon region is central to the global debate on creating a stable climate and maintaining biodiversity. But we cannot deal with sustainability in Amazonia if we do not confront the rural and urban realities in the region of poverty, violence, and the need for economic development.

Research on rural and urban sustainability in Amazonia rewarded with the Volvo Environment Prize 2023

The CEO of Volvo Cars is bullish about the long-term potential of electric motors, but appears more cautious on solid-state battery technology.

Volvo Cars CEO strikes cautious tone on solid-state battery technology

Volvo Group-owned Mack Trucks said Thursday the United Auto Workers' contract demands are unrealistic and that no new talks are scheduled after workers went on strike on Oct. 9, following their rejection of a proposed five-year contract.

Mack Trucks says UAW demands unrealistic, no new talks set

For investors seeking new plays on the electric vehicle (EV) market, Volvo (OTCMKTS: VLVLY ) could be one of the best stocks to buy. This Swedish automaker is known for producing reliable vehicles that often run for years on end.

VLVLY Stock Alert: Volvo Ramps Up EV Production Due to Demand

Q3 revenue was SEK 92 bn (SEK 79 bn in Q3 2022) Q3 operating income (excluding JVs and associates) was SEK 6.1 bn (SEK 3.5 bn in Q3 2022) Q3 operating income was SEK 4.5 bn (SEK 2.1 bn in Q3 2022) Q3 EBIT margin (excluding JVs and associates) was 6.7 per cent (4.4 per cent in Q3 2022) Q3 EBIT margin was 4.8 per cent (2.6 per cent in Q3 2022) Q3 basic earnings per share was SEK 1.01 (SEK 0.11 in Q3 2022) Q3 fully electric car sales share at 13 per cent (7 per cent in Q3 2022) GOTHENBURG, Sweden , Oct. 26, 2023 /PRNewswire/ -- Volvo Cars today reports an almost 75 per cent increase in operating profits, excluding joint ventures and associates, to SEK 6.1 bn for the third quarter of 2023. The EBIT (operating) margin excluding joint ventures and associates came in at 6.7 per cent, compared to a margin of 4.4 per cent in the same period last year.

Volvo Cars Q3 results: momentum continues while performing and transforming

Sweden-based automaker Volvo Cars reported a rise in third-quarter operating earnings on Thursday driven by strong volumes and lower costs for semiconductors and raw materials.

Automaker Volvo Cars posts a rise in third quarter operating earnings

Gentex

Investors interested in stocks from the Automotive - Original Equipment sector have probably already heard of AB Volvo (VLVLY) and Gentex (GNTX). But which of these two stocks is more attractive to value investors?

VLVLY or GNTX: Which Is the Better Value Stock Right Now?

Nestle SA

Companies including Nestle , Unilever , Mahindra Group and Volvo Cars are urging political leaders to agree a timeline at the upcoming U.N. climate summit to phase out fossil fuels.

Nestle, Volvo among 130 companies urging COP28 agreement to ditch fossil fuels

Volvo Group has continued to see growth in net sales and a lower COGS ratio. The main risk to Volvo Group at this time is lower truck demand going forward due to normalization. However, I take a bullish view on the stock given strong performance to date.

AB Volvo: Strong Net Sales Growth And COGS Ratio

AB Volvo (publ) (OTCPK:VOLAF) Q3 2023 Earnings Conference Call October 18, 2023 3:00 AM ET Company Participants Johan Bartler - Head of IR Jan Ytterberg - CFO Martin Lundstedt - CEO Conference Call Participants Erik Golrang - SEB Hampus Engellau - Handelsbanken Nicolai Kempf - Deutsche Bank Agnieszka Viela - Nordea Klas Bergelind - Citibank Johan Bartler Welcome to the Volvo Group Third Quarter Presentation. Today, we will do as always, we will listen to the presentation by Martin and Jan and we will follow by a Q&A session.

AB Volvo (publ) (VOLAF) Q3 2023 Earnings Call Transcript

GOTHENBURG, Sweden , Oct. 18, 2023 /PRNewswire/ -- "In Q3 2023, the Volvo Group continued to deliver improved results, margins and profitability. Adjusted for currency, our net sales grew by 9% to SEK 132.4 billion and we increased the adjusted operating income to SEK 19.1 billion (11.9), corresponding to an adjusted operating margin of 14.4% (10.3).

Volvo Group - the third quarter 2023

Swedish truck maker Volvo reported on Wednesday a bigger than expected rise in adjusted operating profit and forecast the European and North American heavy truck markets would total 290,000 vehicles, respectively, in 2024.

Truckmaker Volvo's Q3 adjusted operating profit beats expectations

Greensboro, NC, Oct. 16, 2023 (GLOBE NEWSWIRE) -- Volvo Trucks North America announced a new comprehensive fleet management portal to access Volvo Trucks' digital services, providing fleets with near real-time data on the health and performance of trucks in operation. The new portal, Volvo Connect, provides a digital suite of state-of-the-art services, analytics, and reports that deliver fleets a range of truck data, including fuel consumption, idle time, vehicle speed, seat belt information, and location information. Volvo Connect helps companies ensure their fleet is maximizing efficiency and profitability with all trucks operating at peak performance. The announcement was made at the American Trucking Associations' (ATA) 2023 Management Conference & Exhibition in Austin, Texas.

Volvo Trucks Launches Volvo Connect, All-in-One Fleet Management Portal

Mack Trucks, Volvo's (VLVLY) subsidiary, faces a UAW strike after failing to reach an agreement with the union members.

Volvo's (VLVLY) Subsidiary Mack Trucks Workers Join UAW Strike

Union workers at Mack Trucks went on strike Monday after voting down a tentative five-year contract agreement that negotiators had reached with the company. The United Auto Workers said 4,000 unionized workers walked out at 7 a.m.

Workers at Mack Trucks go on strike after rejecting tentative contract deal

The strike at the truck manufacturer by 4,000 members of the United Automobile Workers comes in the middle of the union's strikes at three large U.S. car companies.

U.A.W. Workers at Mack Truck Go on Strike

United Auto Workers members went on strike Monday against Mack Trucks after voting to reject a proposed five-year contract deal, the union announced.  Roughly 73% of the 4,000 workers in Florida, Maryland and Pennsylvania voted against the deal.

News for Volvo AB Stock (VLVLY)