The combined impact of COVID-19 and a long-anticipated cyclical downturn in the truck industry have been a major setback for Volvo Trucks in 2020. The same is true for all truck makers, but for Volvo, this will mean a reduction in consolidated sales in 2020 of almost 90,000 units compared to 2019. Even after five years of recovery, sales in 2024 will only be back to levels last seen in 2017, and well out of reach of the recent years peak of 221,600 units in 2019.
This Automotive World report provides a comprehensive review of Volvo’s operations, from its joint venture with Daimler on hydrogen fuel cell technology to its sale of UD Trucks, and its announcement of 4,100 white collar job cuts in response to coronavirus-related falling demand. The report analyses the company’s position, and how these actions will shape its production outlook over the next five years.
Table of contents
- Executive summary
- Chapter 1: Company overview & key alliances / acquisitions
- Chapter 2: Strategic plan & CASE strategy
- Chapter 3: Sales & brand strategy
- Chapter 4: Integration
- Chapter 5: Manufacturing network & production outlook
- Appendices (excel)
- Production by brand and model (20015-2019)
- Production forecasts by brand and model (2020-2024)