Volvo Group reported a 35% jump in second-quarter operating profit to EUR 1.22 billion, driven by robust demand for heavy trucks in North America.
The commercial vehicle manufacturer cited strong order intake and favorable pricing in the region as key factors behind the outperformance, which exceeded market expectations for the period.
The results highlight a divergence within the broader Volvo brand portfolio.
While Volvo Group’s truck division benefited from sustained infrastructure spending and fleet replacement cycles in the US and Canada, its passenger car subsidiary, Volvo Cars, recently reported a 5.6% decline in global sales and a drop in quarterly profits.
Investors appear to be weighing the strength of the commercial business more heavily, as Volvo Cars shares climbed in early trading despite the weaker sales figures.
The North American market has become a critical growth engine for Volvo Group, offsetting softer demand in Europe and Asia.