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Euro NCAP – the European New Car Assessment Programme – has been a benchmark in the area of vehicle safety since 1997. In 2024, it has expanded its tests to include heavy-duty trucks. Following months of stringent testing, Euro NCAP has just released the results of this very first assessment: the Renault Trucks T achieved 4 stars, placing it among the safest trucks on the market.

The European consumer test organization Euro NCAP has for the first time ever assessed the safety of heavy-duty trucks. Volvo’s best-selling models, the Volvo FH and the Volvo FM, both received the top rating of five stars. The Volvo FM also had the best overall test result among all tested trucks.  The Volvo FM and the Volvo FH Aero scored the maximum five stars in Euro NCAP’s first assessment of truck safety who also gave both Volvo models their City Safe award.

Today, November 14, 2024, the Volvo Group held its Capital Markets Day at the Volvo Trucks Customer Center in New River Valley, Virginia, USA. At the event, President and CEO Martin Lundstedt together with Group Management presented the strategic direction to improve the Group’s performance and to strengthen earnings resilience across the business cycle while continuing to invest and accelerate growth through the transformation.

· Volvo Group and Daimler Truck have signed a binding agreement to establish a new 50/50 joint venture to develop a software-defined vehicle platform for heavy duty vehicles and drive the industry transformation. · The new company aims to set an industry standard with headquarters in Gothenburg, Sweden. · The common goal of the partners is to develop a truck operating system and to offer the joint venture's brand- and versatile application-agnostic products to other commercial vehicle OEMs. · Volvo Group and Daimler Truck will remain competitors in all other business areas and will continue to focus on an independent product and service offering, including the respective differentiating digital customer offerings.

“In Q3 2024, demand continued to normalize on most of the Volvo Group’s markets. We are seeing that freight and construction activity has come down in many regions across the world compared with the very high levels of last year. Our net sales decreased by 7% when adjusted for currency and amounted to SEK 117.0 billion (132.3). Sales of vehicles were 11% lower than last year while sales of services remained resilient and increased by 4%. We continued to generate good profits on the lower sales volumes with an adjusted operating income of SEK 14.1 billion (19.3) and a margin of 12.0% (14.4) thanks to hard work by our colleagues and business partners,” says Martin Lundstedt, President and CEO.   

The Volvo Group report for the third quarter 2024 will be published on October 18, 2024 at 7.20 a.m. CEST.