Volvo Aims to Raise Share of North American Truck Market
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Volvo AB is seeking to increase its share of the North American truck market to a quarter by the end of the decade, from around 15% currently, with a range of new fuel-efficient vehicles.
The Volvo brand targets a 15% market share by 2030, with the Mack badge aiming for a 10% share, CEO Martin Lundstedt said during an investor meeting in Virginia on Nov. 14.
Volvo recently started serial production of its all-new VNL truck range in North America. It’s marketing the new platform — the first introduced by the Swedish manufacturer in the region since the 1990s — as a significant improvement in fuel efficiency and productivity.
Meanwhile, analysts have requested more clarity on Volvo’s future dividends to know how much cash the company will need.
Chief Financial Officer Mats Backman said the manufacturer would “remain consistent” in the way it distributes cash to investors. Volvo has been paying out regular and special dividends, without adhering to a set formula determining the size of payouts.
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