Volvo Group (trucks) Q1 2021 net sales increased 3% year on year to SEK94.0bn (SEK91.4bn). Adjusted for currency movements, net sales increased by 13%.

Adjusted operating income was SEK11,821m (SEK7,140m) for an adjusted operating margin of 12.6% (7.8%).

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Reported operating income was SEK12,067m vs SEK7,374m.

Currency movements had a negative impact on operating income of SEK1,125m.

Earnings per share was SEK4.35 (SEK2.30).

During the quarter Volvo Group and Daimler Truck launched a fuel-cell joint venture call Cellcentric. On 1 April , Volvo Group and Isuzu Motors closed the deal selling UD Trucks (once Nissan Diesel) to the Japanese company.

The shortage of semiconductors impacted Q1 production, Volvo said without elaborating.

“The first quarter of 2021 was characterised by high activity among our customers, which was reflected in good demand for both new products and services,” said CEO Martin Lundstedt.

Just Auto Excellence Awards - Nominations Closed

Nominations are now closed for the Just Auto Technology Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Continental has secured the Window Displays Innovation Award in the 2025 Just Auto Excellence Awards for its Window Projection solution, transforming side windows into dynamic, data-rich canvases. Discover how this compact projection technology and intelligent software are reshaping in-car UX and opening fresh revenue streams for OEMs and mobility providers.

Discover the Impact