Volvo Trucks in 2023: All-time high sales and expanded electric truck offer

Volvo delivered more trucks than ever in 2023 with global deliveries amounting to 145,395 trucks, supported by strong market shares around the world. The company also continued to invest heavily in its product portfolio and kept its leading position in the electric truck market.

Volvo Trucks Electric
Volvo Trucks keeps its leading position and entered new markets with electric trucks.

Volvo’s total truck deliveries increased slightly to an all-time high of 145,395 trucks (2022: 145,195) with the top three markets being the United States, Brazil, and the United Kingdom. The company’s overall market shares remained high around the world in 2023.

“I am really proud of our performance in 2023 – another record year! This is a clear proof point that our customers appreciate the fuel efficiency, safety, and uptime of our trucks”, says Roger Alm, President, Volvo Trucks.

Electric on the rise – Volvo keeps its leading position

Volvo Trucks retained its strong position in the electric truck market with total global deliveries of 1,977 electric trucks during 2023, an increase of 256 percent compared to the previous year. Volvo’s share of the electric heavy-duty segment in Europe increased to 47.2 percent (32.3 percent).

Volvo Trucks has recently expanded its electric range with two new models – the new Volvo FH Aero Electric and the new Volvo FM Low Entry, which is the company’s first model developed only with a fully electric powertrain. This means that the company now has a total of eight electric truck models on offer, designed to handle a wide variety of transport assignments.

“With our latest launches, we strengthen our leading position in the industry. Our electric trucks are in serial production and in commercial traffic – cutting emissions for our customers every day,” says Roger Alm.

Since 2019, Volvo Trucks has delivered electric trucks to customers in 45 countries on six continents. During 2023 Volvo delivered its first heavy-duty electric trucks to Latin America, with vehicles going to customers in Brazil, Chile, and Uruguay. Volvo also became the first manufacturer to deliver battery-electric heavy trucks in Morocco, South Korea, and Malaysia.

Volvo biggest launch ever – new fuel-efficient trucks globally

In the beginning of 2024, Volvo delivered its biggest product overhaul ever, with new trucks launched globally. The all-new Volvo VNL long-haul heavy-duty truck for the North American market is based on an all-new platform that will deliver up to 10 percent* better fuel economy when compared to the previous generation, and a range of new safety features. The new platform can be adapted for various renewable fuels as well as a battery-electric powertrain.

For Europe, Middle East, Africa, Asia and Australia, the Volvo FH model was unveiled in a new FH Aero version with four different powertrain options, including electric- and renewable fuel-powered engines. Thanks to optimized aerodynamics and new technologies, this model range delivers up to 5 percent* better fuel efficiency compared to the regular Volvo FH model.

*Actual fuel economy may vary depending on many factors i.e. driving speed, use of cruise control, vehicle specification, vehicle load, actual topography, the driver´s driving experience, vehicle maintenance, and weather conditions.