All Brands Owned by Volvo Group (AB Volvo)

Is Volvo Group the same as Volvo Cars?
No. Volvo Group (AB Volvo) and Volvo Cars are legally and operationally separate companies with different owners. Volvo Group sold its passenger car business to Ford Motor Company in 1999 for approximately $6.45 billion. Ford subsequently sold Volvo Cars to Geely Holding Group of China in 2010. Volvo Group retains the Volvo brand for trucks, buses, construction equipment, and marine engines. Volvo Cars is entirely separate and produces passenger vehicles under Geely's ownership.

Who owns Volvo Group?
Volvo Group (AB Volvo) is a public company listed on Nasdaq Stockholm. The largest shareholder is Industrivarden AB, a Swedish investment company associated with the Wallenberg family, which holds approximately 24% of votes. China's Geely Holding Group holds approximately 8.2% of shares. The remaining shares are held by institutional investors and public shareholders. No single entity holds a majority of votes; Industrivarden's position gives it significant influence as the largest individual bloc.

Who founded Volvo Group?
Volvo was founded on April 14, 1927, by Assar Gabrielsson and Gustaf Larson in Gothenburg, Sweden. Gabrielsson was a sales director at SKF, the Swedish bearing manufacturer that provided initial financing. Larson was an engineer. The company was incorporated as a subsidiary of SKF, which sold its stake in Volvo in 1935. Gabrielsson and Larson ran the company until Gabrielsson retired in 1956.

Is Volvo Group publicly traded?
Yes. AB Volvo is listed on Nasdaq Stockholm under two share classes: VOLV A (one vote per share) and VOLV B (one-tenth vote per share). The company has been publicly listed since 1935. American Depositary Receipts for AB Volvo are also traded on the OTC market in the United States.

What brands does Volvo Group own?
Volvo Group owns Volvo Trucks, Mack Trucks, Renault Trucks, Volvo Buses, Volvo Construction Equipment, Volvo Penta (marine and industrial engines), Prevost (premium coaches), Nova Bus (transit buses), and Rokbak (articulated haulers, formerly Terex Trucks). Volvo Group does not own Volvo Cars.

What is Volvo Group's revenue?
Volvo Group reported revenue of approximately SEK 553 billion for fiscal year 2024 (approximately $51 billion at average 2024 exchange rates). This compares with record revenues in FY2022 and FY2023, which were boosted by post-pandemic fleet replacement demand. The FY2024 decline reflected softening freight markets in North America and Europe. The company is headquartered in Gothenburg and employs approximately 100,000 people worldwide.

When did Volvo sell Volvo Cars?
Volvo Group sold Volvo Cars to Ford Motor Company in January 1999 for approximately $6.45 billion. The sale allowed Volvo Group to concentrate its capital and management on commercial vehicles, construction equipment, and industrial engines. Ford sold Volvo Cars to Geely Holding Group of China in 2010 for approximately $1.8 billion, a transaction that gave Geely its first major Western brand acquisition.