Latest news with #MartinLundstedt
Yahoo
18-05-2025
- Business
- Yahoo
Andrea Fuder, Chief Purchasing Officer at Volvo Group has tragically passed away
GOTHENBURG, Sweden, May 18, 2025 /PRNewswire/ -- Andrea Fuder, Chief Purchasing Officer and a member of the Volvo Group Executive Board since 2017, has tragically passed away following a short illness. Andrea led the global purchasing team and its ecosystem of supply partners through one of the most significant transformations the industry has ever seen, including navigating the pandemic, supply shortages, and an increasing volatile geopolitical landscape. She was instrumental in driving the Volvo Group transition towards more sustainable transport solutions. "My thoughts are with Andrea's loved ones during this difficult time of loss. There is no doubt that the leaves behind a remarkable legacy, having played a vital role in the Volvo Group success over the past eight years. She was a true driving force in harnessing purchasing power as a catalyst for positive change. Thanks to her dedication and commitment, our supply network is stronger than ever. Andrea will be deeply missed," says Martin Lundstedt, President and CEO, Volvo Group. Jens Holtinger, Executive Vice President Group Trucks Operations will serve as acting Chief Purchasing Officer. Journalists wanting further information, please contact:Claes Eliasson, Head of Media Relations+46 76 553 7229press@ For more information, please visit For frequent updates, follow us on LinkedIn The Volvo Group drives prosperity through transport and infrastructure solutions, offering trucks, buses, construction equipment, power solutions for marine and industrial applications, financing and services that increase our customers' uptime and productivity. Founded in 1927, the Volvo Group is committed to shaping the future landscape of sustainable transport and infrastructure solutions. The Volvo Group is headquartered in Gothenburg, Sweden, employs more than 100,000 people and serves customers in almost 190 markets. In 2024, net sales amounted to SEK 527 billion (EUR 46 billion). Volvo shares are listed on Nasdaq Stockholm. This information was brought to you by Cision The following files are available for download: Press Release - Andrea Fuder, Chief Purchasing Officer at Volvo Group has tragically passed away AndreaFuder 1860x1050 View original content: SOURCE AB Volvo Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
AU Financial Review
15-05-2025
- Automotive
- AU Financial Review
Volvo boss ready to take on Chinese electric truck rivals
The chief executive of $90 billion trucks and buses maker Volvo Group says he can still compete with Chinese rivals with well-targeted investment, while acknowledging that global trade uncertainty had caused some customers to delay decisions. Martin Lundstedt, in Australia to oversee the delivery of 10 electric trucks to logistics and transport giant Linfox, owned by the Rich Lister family headed by Lindsay Fox, said electric trucks were still well behind electric cars in widespread adoption.
Yahoo
25-04-2025
- Automotive
- Yahoo
Volvo Group's Q1 2025 net sales drop by 7%
Volvo Group has reported 7% drop in net sales to Skr121.8bn ($12.65bn) in first quarter (Q1) 2025, that ended on 31 March, from Skr131.2bn in the same period last year. Sales declined across all regions and segments, except for buses. In Q1 2025, both adjusted and reported operating income stood at Skr13.25bn, down from Skr18.15bn in Q1 2024. This corresponds to an operating margin of 10.9%, compared to 13.8% last year. The decline was attributed to lower sales volumes, an unfavorable mix of brands and products, lower production efficiency in truck plants in the US and the transition to a new truck platform in North America. In Q1, net order intake increased by 13% to 55,227 trucks and deliveries decreased by 12% to 48,833 units. Deliveries of heavy-duty trucks decreased by 7%, of medium-duty trucks by 26% and for light-duty trucks the decrease was 36%. The company also lowered its forecast for North America's heavy-duty truck market to 275,000 from about 300,000 for the year. In Q1 2025, the company received 13% more truck orders compared to Q1 2024, totaling 55,227, but deliveries dropped by 12% to 48,833 units. Heavy-duty truck deliveries fell by 7%, light-duty by 36%, and medium-duty by 26%. The company also cut its forecast for North America's heavy-duty truck market for the year from around 300,000 to 275,000 units. Volvo Group president and CEO Martin Lundstedt said: 'In Europe, Volvo Trucks had an all-time high market share of 20.1% in heavy-duty trucks. Combined with Renault Trucks, the Groupʼs share was a record 30.6%, We were also the market leader in Brazil with Volvo Trucks on 23.8%. 'Volvo Trucksʼ market share in North America has been hampered by the changeover to the new product platform, whereas Mack Trucks have regained market share as supply chain issues have been worked through. 'In the fast-changing geopolitical landscape, it is too early to assess the full implications from the imposed tariffs." Lundstedt added: 'In the short term, we therefore work actively with our regional value chains to adapt flows, production capacity and commercial terms to mitigate the effects from tariffs and their subsequent impact on demand. In the long term, transport and infrastructure remain exciting growth industries at the core of driving prosperity.' Recently, Reuters reported that Volvo Group was planning to cut as many as 800 workers across three US facilities within the next three months. The move comes amidst market uncertainty and demand concerns, which have been exacerbated by the tariffs imposed by US President Donald Trump. "Volvo Group's Q1 2025 net sales drop by 7%" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
23-04-2025
- Automotive
- Yahoo
Volvo Group posts lower sales and declining profits as tariff uncertainty hits
The Volvo Group said on Wednesday that its net profit fell to SEK 9.89bn (€910 million) in the first three months of 2025, from a little more than SEK 14bn (€1.29bn) in the previous year. The drop was driven by a 7% decline in the group's net sales, amounting to SEK 121.8bn (€11.15bn) in the same period. Volvo Group, which manufactures trucks, buses, construction equipment and engines, reported that its vehicle sales decreased by 9% and service sales declined by 1%. Meanwhile, the operating margin was 10.9%. The company's earnings per share amounted to SEK 4.86 (44 euro cent). Truck deliveries were down by 12%, though order intake grew 13%. That was largely driven by European demand. The Volvo Group sees positive trends in this market, where Volvo Trucks' total heavy-duty market share reached an all-time high of more than 20%. Related Eurozone economy stalls in April as tariffs rattle services activity All eyes on EVs as carmakers eye competition at Auto Shanghai 2025 The European order intake also increased by 25% even though total deliveries decreased by 18%. The company expects European orders to pick up after the recently announced increased defence spending will boost demand from armed forces. Volvo Group also said that in North America, the market was down compared with the previous year, due to recent uncertainty surrounding trade tariffs and a new emissions legislation, which has caused US customers to adopt a wait-and-see approach. 'In the fast-changing geopolitical landscape, it is too early to assess the full implications from the imposed tariffs,' Martin Lundstedt President and CEO of Volvo Group, said. He added, 'we work actively with our regional value chains to adapt flows, production capacity and commercial terms to mitigate the effects from tariffs and their subsequent impact on demand.' Sign in to access your portfolio
Euronews
23-04-2025
- Automotive
- Euronews
Volvo Group posts lower sales and declining profits as tariff uncertainty hits
ADVERTISEMENT The Volvo Group said on Wednesday that its net profit fell to SEK 9.89bn (€910 million) in the first three months of 2025, from a little more than SEK 14bn (€1.29bn) in the previous year. The drop was driven by a 7% decline in the group's net sales, amounting to SEK 121.8bn (€11.15bn) in the same period. Volvo Group, which manufactures trucks, buses, construction equipment and engines, reported that its vehicle sales decreased by 9% and service sales declined by 1%. Meanwhile, the operating margin was 10.9%. The company's earnings per share amounted to SEK 4.86 (44 euro cent). Truck deliveries were down by 12%, though order intake grew 13%. That was largely driven by European demand. The Volvo Group sees positive trends in this market, where Volvo Trucks' total heavy-duty market share reached an all-time high of more than 20%. Related Eurozone economy stalls in April as tariffs rattle services activity All eyes on EVs as carmakers eye competition at Auto Shanghai 2025 The European order intake also increased by 25% even though total deliveries decreased by 18%. The company expects European orders to pick up after the recently announced increased defence spending will boost demand from armed forces. Volvo Group also said that in North America, the market was down compared with the previous year, due to recent uncertainty surrounding trade tariffs and a new emissions legislation, which has caused US customers to adopt a wait-and-see approach. 'In the fast-changing geopolitical landscape, it is too early to assess the full implications from the imposed tariffs,' Martin Lundstedt President and CEO of Volvo Group, said. He added, 'we work actively with our regional value chains to adapt flows, production capacity and commercial terms to mitigate the effects from tariffs and their subsequent impact on demand.'
